House prices jump £50 every day

Commenting on the research, Fionnuala Earley, Nationwide's Chief Economist, says: “The price of a typical house is now £184,070, more than £18,000 higher than this time last year, which is the equivalent of a rise of more than £50 per day.” The Nationwide monthly house price index revealed that house price growth in June was 1.1%, which was stronger than expected after growth of 0.5% was reported in May. The increase in price growth has brought the annual rate of house price inflation to 11.1%, the highest since January 2005. Earley thinks that the resilience of the housing market will...