Nationwide reports fifth monthly house price rise
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.HOUSE prices rose in July for the fifth successive month, according to statistics released yesterday by Nationwide Building Society, writes Maria Scott.
Its house price index shows the average price of houses rose 0.7 per cent to pounds 54,103 between June and July. This is still 2.4 per cent lower than the average price of a year ago, but prices have risen by 4.3 per cent since the end of 1992, according to Nationwide.
There are signs that the annual rate of decline is being stalled. Prices fell 3.5 per cent in the year to June, 5.5 per cent in the year to May and 5.8 per cent in the year to April.
Last month, Nationwide released figures showing a rise of 1.6 per cent for June which conflicted with a 1.1 per cent fall reported by the Halifax. Halifax's figures will be released tomorrow. Gary Marsh, housing economist at the Halifax, said: 'The overall picture is of a flat market.'
Nevertheless, he believed that there was a recovery, even if it was not manifested in sharply rising prices.
According to the National House- Building Council (NHBC), 645 new homes were sold each day during July, the same number as in June. This was an increase of about 30 per cent on sales last September, when these figures were first monitored. But the NHBC says recovery in the building industry is patchy and fragile.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments