House prices rose by 1 per cent in July, says Nationwide

29 July 2003
New figures from the Nationwide Building Society show that, despite all the concerns of recent months, house prices continued to rise steadily during July.

The building society's latest survey shows that prices rose by an average 1 per cent during the current month - and has risen by 7.7 per cent for the whole year so far.

However, the rate of growth continues to slow, with annual house price inflation falling to 17.9 per cent from 19.2 per cent in May.

In addition, July saw the lowest number of first time buyers enter the market for 20 years, but the number of homeowners trading up continues to be above the five year average.

The Nationwide figures contrast with a survey produced by Hometrack on Monday this week, which shows the housing market to be stagnating.