Wednesday, 5 September 2018 | Admin
House Prices see summer slow down, says Nationwide
Annual UK house price growth continued to slow over the summer with homes now 2% more expensive than a year ago, the Nationwide has said.
The building society said that the annual change had fallen from growth of 2.5% in July to 2% in August.
Average property prices had actually fallen by 0.5% in August compared to July, but this is considered to be a much more volatile measure.
The average home now costs £214,745, the Nationwide said.
Robert Gardner, Nationwide's chief economist, said: "Looking further ahead, much will depend on how broader economic conditions evolve, especially in the labour market, but also with respect to interest rates.