House prices rise despite slower UK growth says Nationwide

House prices rose by another 0.8% in May to take the annual house price inflation figure to 7.7%, according to monthly estimates o9f the property market announced by Nationwide Building Society, despite suggestions that the UK economy may be slowing down. The average UK house price is now £87,267 and figures also released by Nationwide show that prices have increased 50% since Labour came to power four years ago. The average house price in 1997 was £58,196. Nationwide's group economist Alex Bannister says the figure compares with a 0.3% decrease in May of last year, putting the 7.7% ...