RSS Feed

Related Articles

Related Categories

House prices stable in June

30th June 2011 Print

House prices were unchanged in June, according to the latest Nationwide House Price Index.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "Stability remained the theme in June, with house prices flat over the month. This left house prices 1.1% below the level prevailing in June 2010.

"At 0.3%, the three month on three month measure of house prices was slightly weaker than the 0.6% pace of increase recorded in May.

"The property market has moved sideways over the past six months, and June's data suggest that trend is being maintained through the summer months.
Sluggish demand, sluggish supply "Housing market demand has remained subdued of late, as evidenced by the still weak level of mortgage applications in recent months and the sluggish pace of new buyer enquiries reported by surveyors.

"There have been a few encouraging developments for households, but to date this hasn't been enough to reinvigorate the housing market. Employment has been edging up and consumer confidence surged in May - although the latter may have had more to do with unusually warm weather and extra bank holidays, rather than signalling the arrival of any recovery-related feel good factor."