- House prices were unchanged in June
- Price of a typical home in June is 1.1% lower than one year ago
- Demand remains subdued, but so does supply
* Seasonally adjusted
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.
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."