Nationwide's July House Price Index Shows House Prices Falling

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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