Prices softening according to Nationwide's HPI

Nationwide's House Price Index for August 2015 shows softening growth.

UK house prices increased by 0.3% in August, slowing the annual rate of growth to 3.2%.

Nationwide's Chief Economist,  Robert Gardner, 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%.

“However, survey evidence cautions that this trend may not be maintained unless construction activity accelerates. Surveyors reported the lowest ever number of properties on their books in July new buyer enquiries picked up. "

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