• Annual house prices rise by 0.5%
  • House prices rise 0.1% in June
  • Annual price falls persist in London and the South East

House prices grew by a modest 0.1% in June, with the average UK house price now standing at £216,515. Annual house price growth still remains subdued at just 0.5%.

Price falls continue in London

Prices have continued to fall in London for the eighth quarter in a row, though the annual pace of decline slowed to 0.7%, from 3.8% last quarter.

Prices in the capital are still only around 5% below the all-time highs recorded in 2017 and are remain around 50% above their 2007 levels.

Robert Gardner, Nationwide’s Chief Economist, said: “UK annual house price growth remained below 1% for the seventh consecutive month in June, at 0.5%.

“Survey data suggests that new buyer enquiries and consumer confidence have remained subdued in recent months. Nevertheless, indicators of housing market activity, such as the number of mortgages approved for house purchase, have remained broadly stable. “

Source: Nationwide
Monthly Index*428.2427.6
Monthly Change*0.1%-0.2%
Annual Change0.5%0.6%
Average Price (not seasonally adjusted) £216,515 £214,946
* Seasonally adjusted figure