House prices stable in face of ‘uncertain’ UK economy
Business digest: Housing market prices remain low, but not low enough to entice first-time buyers
House prices across the UK rose by 0.2 per cent in July, with the average house costing just 0.4 per cent less than this time last year, according to Nationwide, which believes this is evidence that the market is stabilising.
Robert Gardner, chief economist at the building society, said that the situation reflected the "uncertain" state of economy.
Gardner said that prices remained high "compared to incomes", and that this, along with heftier deposit requirements, was "dissuading, or at least delaying" first-time buyers.
The Land Registry for England and Wales said that the average house price remained unchanged at £161,479.
Read a full report at BBC News. ·
