Date issued: 29 Jul 2010
HOUSE PRICES FALL BACK IN JULY AS BUYER DEMAND REMAINS WEAK
- House prices fell by 0.5% in July
- Annual rate of house price inflation slips back further from 8.7% to 6.6%
- Market conditions ease further as buyers still in short supply
| Headlines |
July 2010 |
June 2010 |
| Monthly index* |
334.0 |
335.6 |
| Monthly change* |
-0.5% |
0.0% |
| Annual change |
6.6% |
8.7% |
| Average price |
£169,347 |
£170,111 |
* 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.”
For further information please see our July 2010 report (PDF 101KB).
