House prices fall again in June, says Nationwide

Building society's latest index shows prices continuing to slow down.

UK house prices fell slightly in June, according to the latest Nationwide House Price Index, continuing an annual slowdown.

Prices were down by 0.2% in June, following a 0.2% increase in May.

This meant that annual house price growth fell from 4.6% in May to 3.3%, the smallest level in two years. The average UK house price is now £195,055, Nationwide says.

Here’s how house prices have changed over the past year, according to Nationwide.

Month	Monthly change % (seasonally adjusted)	Annual % change	Average house price
July 2014	0.2%	10.6%	£188,949
August 2014	0.8%	11.0%	£189,306
September 2014	-0.1%	9.4%	£188,374
October 2014	0.6%	9.0%	£189,333
November 2014	0.3%	8.5%	£189,388
December 2014	0.2%	7.2%	£188,559
January 2015	0.3%	6.8%	£188,446
February 2015	-0.1%	5.7%	£187,964
March 2015	0.1%	5.1%	£189,454
April 2015	1.0%	5.2%	£193,048
May 2015	0.3%	4.6%	£195,166
June 2015	-0.2%	3.3%	£195,055

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Regional prices

Across the UK, annual house price growth slowed in 11 of the 13 regions between April and June, the exceptions being Northern Ireland and Scotland.

Northern Ireland was actually the strongest performing region, with prices up 8% annually, outperforming London.

However, prices in the province are still 45% lower than their 2007 peak.

Here’s how prices in the regions are performing.

Region	Annual house price change April-June 2015	Average price	Strongest annual price change	Weakest annual price change
Northern Ireland	8.0%	£126,525	West	City of Belfast
London	7.3%	£429,711	Barking and Dagenham	Tower Hamlets
Outer Metropolitan	6.8%	£315,620	Slough	Central Kent
Outer South East	6.0%	£244,119	Central Bedfordshire	Isle of Wight
East Anglia	5.2%	£198,826	Cambridgeshire	Norfolk/Peterborough/Suffolk
East Midlands	4.1%	£160,428	Northamptonshire	Nottingham
South West	3.8%	£215,363	Bristol	Plymouth
West Midlands	3.4%	£165,873	Coventry	Worcestershire
Yorkshire & Humberside	3.3%	£147,387	Sheffield	West Yorkshire
North West	1.4%	£146,908	Warrington & Halton	Lancashire
North	0.1%	£125,189	County Durham/Northumberland	Cumbria
Wales	-0.8%	£144,701	Cardiff	Mid & West Wales
Scotland	-1.0%	£140,512	Edinburgh City	Renfrewshire & Inverclyde
UK average	4.1%	£194,258	-	-

Best- and worst-performing towns and cities

Reading, Oxford, Coventry, Brighton and Bristol saw the highest annual growth.

Sunderland, Belfast, Nottingham, Plymouth and Glasgow saw the lowest.

Broken chains

Paul Smith, CEO of haart estate agents, said: "Today’s report of national house price growth slowing is a step in the right direction for affordability but we are still finding that demand for homes is outpacing supply.

"The formation of property chains is still proving difficult – while many are keen to move, and would do so if the opportunity presented itself, the difficulty is in securing an onward purchase. This is having a stagnating effect and there is a desperate need for a more liquid market, through an injection of supply."

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