Property prices up in June, says Nationwide

Posted: 30 Jun 2009 10:22:22 GMT

Property prices increased in June, according to the latest Nationwide Building Society index.

The average cost of housing was 0.9 per cent higher in June than it was in May, the financial services provider said.

Chief economist at Nationwide Martin Gahbauer suggested that many people selling property will feel more confident when marketing their homes thanks to the price hikes.

However, he warned that there will be a number of cases where consumers have to sell up due to economic constraints.

"While it is encouraging to see that prices are no longer seeing steep falls, there are still many obstacles in the way of a genuine and sustainable price recovery," Mr Gahbauer explained.

Nationwide has reported three price rises over the last four months and it has now claimed that the average property in the UK cost £156,442 in June.

Halifax, which indicated higher hikes in property value than Nationwide in May, is scheduled to release its June house price data in early July.


© Houseladder Ltd