June house prices 'remained unchanged'

Posted: 30 Jun 2011 12:03:48 GMT

UK house prices have been fairly stable throughout June, it has been found.

House prices across the UK in June have remained largely unchanged, new figures have shown.

According to Nationwide, both demand and supply of homes continue to be subdued, with the cost of the average home currently costing 1.1 per cent less than it did at the same time last year.

Robert Gardner, chief economist at the building society, noted the property market has been moving in a sideways direction for the past six months.

The industry figure said this trend is likely to continue throughout the summer, adding: "Housing market demand has remained subdued of late, as evidenced by the still-weak level of mortgage applications in recent months and the sluggish pace of new buyer enquiries."

There have been signs of late, however, that consumer confidence may be returning to the sector, he observed.

Earlier in the month, research from Halifax highlighted Liverpool and London as being among the cities to have experienced the most marked house price rises over the last ten years.
  

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