Britain’s biggest building society said that the annual pace of growth was down from 2.9 per cent in July, continuing a trend. Twelve months ago house prices were rising at an annual rate of 5.6 per cent. Nationwide said that the pattern was “consistent with signs of cooling in the housing market and the wider economy”. On a more volatile monthly basis, house prices fell by 0.1 per cent between July and August to reach an average of £210,495. The slowdown recorded by Nationwide echoes other signs of a sluggish housing market.

Source: The Times August 29, 2017 07:52 UTC