House prices up in July

The lender says the rate of growth is more than double that of this time last year when prices were increasing at an annual rate of only 2.6%. The price of a typical house in the UK is now £167,733, which is £9,385 more than at the same time last year, it adds. Demand in the housing market remains fairly buoyant which, Nationwide says, will help to support prices, at least in the short term. House purchase approvals picked up to 120,000 in June to equal the peak at the turn of the year while indicators of demand early in the house purchase process have also been fairly positive. And al...