House prices inflation slowest in 9 years

The building society claims the housing market is set for a soft landing as promised last year. The annual rate of house price inflation fell back from 7% in April to 5.5% in May. This was the lowest rate of inflation since August 1996. Prices have increase by an average of 0.2% per month in the last three months. The price of the average property increased by £8,252 in the last 12 months to May and now stands ast £155,272 says Nationwide. The lender claims the biggest threat to any continued soft landing in the housing market is an increase in unemployment but the lender says while un...