Annual house price growth on the slide - Nationwide

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Annual house price growth fell for the second consecutive month to 8.7% in June and is likely to continue to drop as measures announced in the emergency Budget hit finances, Nationwide says.

Figures published by the building society suggest that, after hitting double digit growth of 10.5% in April, annual house price inflation dropped to 9.8% in May and fell a further 1.1% this month.   House prices have risen a cumulative 3% over the first half of the year, with the average reaching £170,111 in June. Monthly house price growth remains broadly stable, increasing just 0.1% in June following a 0.5% rise in May this year. Meanwhile, the quarter on quarter rate of change also showed a marginal change from 1.7% to 1.8%. Martin Gahbauer, chief economist at Nationwide, sa...

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