House prices up again in June by Nationwide

House prices rose again in June, but only by 0.1%, according to the Nationwide Building Society.

The increase follows a rise of 0.5% in May, with the average property in the UK now costing more than £ 170,000.

The prices have increased by 3% since the beginning of the year, resulted in the Nationwide house price index.

However, the fall, the rate of annual inflation rate back to 8.7%, with prices rising more slowly than at this time last year.

Commenting on the figures, Nationwide’s chief economist Martin Gahbauer said the slowdown is by increasing the number of properties for sale.

“Recent indicators point to an increase in the supply of property on the market for sale, perhaps in response to the abolition of the Hip (Home Information Packs) in the first days of the new government coalition,” he said.

“With the level of demand remain fairly stable, this would contribute in part to look at the recent slowdown, says the rate of inflation in house prices.”

The coalition government confirmed that it would be abolished after the election, Hips May

Mr Gahbauer added that he expected to keep falling, the annual house price inflation in the coming months as a result of the strong house price rises seen in the summer of 2009