Nationwide's July House Price Index Shows House Prices Falling

Published ¤ 29/07/2010 11:03:39

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House prices fall back in July as buyer demand remains weak
  • House prices fell by 0.5% in July
  • Annual rate of house price inflation slips back further from 8.7% to 6.6%
  • Market conditions ease further as buyers still in short supply
Headlines June 2010

July 2010

Monthly Index* 335.6 334.0
Monthly Change* 0.0% -0.5%
Annual Change 8.7% 6.6%
Average Price £170,111 £169,347

* Seasonally adjusted
Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said:

"House prices fell in July for the first time since February. The price of a typical UK property fell by a seasonally adjusted 0.5% month-on-month, after having been unchanged in June. The 3 month on 3 month rate of change – a smoother indicator of the near term price trend – fell from 1.7% in June to 1.3% in July, significantly below the peak of 4.0% reached in September 2009. There was also a sizeable drop in the annual rate of house price inflation from 8.7% in June to 6.6% in July, due in part to the strength of house price gains in the same month last year."

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