UK house prices returned to growth in July as the property market stabilised following the end of a stamp duty holiday, the lender Nationwide said on Friday.
House prices rose 0.6 per cent on the previous month, slightly ahead of the 0.5 per cent increase analysts had expected, Nationwide’s monthly index showed. The annual rate was 2.4 per cent, up from 2.1 per cent in June.
The recovery follows a sharp monthly price fall in June, when the market was becalmed following the expiry of a tax break earlier in the year. It brought the average price of a house to ￡272,664, still short of the ￡273,427 it had reached in May.
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