Date issued: 30 Jun 2009
HOUSE PRICE RISES CONTINUED IN JUNE
- House prices rose by 0.9% in June
- Three month rate of change turns positive for first time since December 2007
- Low supply supporting prices for now, but a sustained recovery still faces risks
| Headlines |
June 2009 |
May 2009 |
| Monthly index * Q1 '93 = 100 |
307.6 |
304.9 |
| Monthly change* |
0.9% |
1.3% |
| Annual change |
-9.3% |
-11.3% |
| Average price |
£156,442 |
£154,016 |
* seasonally adjusted
Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said:
The price of a typical house rose by a seasonally adjusted 0.9% in June, building upon the improving trend seen over the last several months. At £156,442, the average house price across the UK was still 9.3% lower than a year ago, but this marks the first time since July 2008 that the year-on-year fall has been in single digits. The three month on three month rate of change a smoother indicator of the short-term price trend turned positive for the first time since December 2007 to stand at 0.9%, up from -0.4% in May. If the pattern of price movements seen in the first half of the year is repeated over the second half, then prices could show only a small single digit fall for 2009 as a whole. This would represent a stark shift from trends seen at the turn of the year, when most indicators were pointing to a repeat of the large declines seen in 2008.
For further information please see our June 2009 report (PDF 51KB).
