UK

House Prices Up In July, According To Report From Nationwide

07/29/2011 09:59 am 09:59:05 | Updated 27 September 2011

House prices rose by 0.2 per cent in July, according to figures from Nationwide.

The survey paints an uncertain picture of the UK economy after disappointing GDP figures earlier this week.

Chief economist at Nationwide Robert Gardner said that the market was “relatively stable” but first-time buyers still had trouble getting on the property ladder.

"House prices remain relatively high compared to incomes and, together with more demanding deposit requirements, this is dissuading, or at least delaying, some first-time buyers from entering the market," he said on Friday.

After this month’s rise, house prices are now 0.4% less than a year ago.

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