UK house prices rise for second month in July – Nationwide
In July UK house prices rose for a second month in a row in July. This suggests a stabilisation of the housing market following a period of political uncertainty.
The price rise in July was 0.3 percent, which was better than some economists had predicted. In annual terms prices were 2.9 percent higher, Nationwide said.
In a statement Robert Gardner, Nationwide's chief economist, said "… a lack of homes on the market appears to be providing support, with annual house price growth remaining only just outside the 3-6 percent range, that has been prevailing for most of the past two years…"
He went on to predict that the shortage of houses on the market would lead to price growth of around 2 percent in 2017.
