The average price of a home fell 0.1% between July and August to £210,495, according to Nationwide, Britain’s biggest building society. The latest monthly price drop took the annual growth rate back down to 2.1%, a level last seen in May, which was the lowest rate in four years, from 2.9% in July. Samuel Tombs, chief UK economist at the consultancy Pantheon Macroeconomics, said the slowdown in house price growth reflected the squeeze on real wages (adjusted for inflation) and the slowdown in the pace that mortgage rates are falling. It says house prices across the country are still 12% above their 2007 peak. Monthly UK house price statistics Photograph: NationwideAfter increases in stamp duty in spring 2016, revenues from the tax have reached all-time high highs, rising to £12.8bn in the 12 months to June, well above the £10.6bn peak recorded in late 2007.

Source: The Guardian August 29, 2017 07:15 UTC