Annual house price growth softens in August

The annual pace of house price growth slowed to 3.2% in August from 3.5% in July. UK house prices fell by 0.3%.

Robert Gardner, Nationwide’s Chief Economist, commented “UK house prices increased by 0.3% in August, though the annual pace of house price growth edged down to 3.2% from 3.5% in July. The annual rate of price growth was the weakest since June 2013; this partly reflects the high base for comparison, since prices increased at a particularly strong rate in August 2014."

“This month’s data provides further evidence that annual house price growth may be stabilising close to the pace of earnings growth, which has historically been around 4%."

House Price Index Headlines Aug 2015 Jul 2015
Monthly Index* 387.4 386.1
Monthly Change* 0.3% 0.4%
Annual Change 3.2% 3.5%
Average Price (not seasonally adjusted) £195,279 £195,621

*Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are re-estimated)

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