House price growth slows in July

The report shows a seasonally adjusted monthly change of just 0.1% this month, which has brought annual growth figures down to 9.9%. By comparison, June saw monthly growth of 1.1% and annual growth stood exceptionally high at 11.1%, according to Nationwide figures. The average price of a UK property increased by just £200, from £184,070 to £184,270, between June and July. This compared with reports that house prices increased by £50 every day in June. Commenting on the findings, Fionnuala Earley, chief economist at Nationwide, says: “The three-month on three-month rate of growth – often...