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
[SPOTLIGHT]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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