The annual rate of house price inflation has slowed to its lowest level since May 1996, according to the latest figures from Nationwide.
The building society says while house prices increased in eight out of the last twelve months the general pace of house price inflation has tended to be fairly soft. August saw house prices fall yet again but only by 0.2% thereby reversing the progress made in July. Prices in the three months to August rose by just 0.3% and the annual rate of inflation fell back to 2.3% from 2.6% the previous month and compares poorly to the 18.9% annual rate of house price inflation for the same period last year. The price of a typical house in the UK is now £157,310 compared to £153,743 this time last y...
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