The prices of houses in the United Kingdom saw an annual growth of 2.1% in June, according to the Nationwide House Price Index released on Tuesday. The figure marks a decline from May, when annual house price growth stood at 3.5%.
On a monthly basis, the index was down by 0.8% on a seasonally adjusted basis, while the average house price in the country in June stood at £271,619.
"The softening in price growth may reflect weaker demand following the increase in stamp duty at the start of April. Nevertheless, we still expect activity to pick up as the summer progresses, despite ongoing economic uncertainties in the global economy, since underlying conditions for potential homebuyers in the UK remain supportive," Nationwide's chief economist, Robert Gardner, said.
