House prices ‘stabilising’

A 0.9 per cent increase in house prices in June has fuelled hopes that the property market it stabilising. Figures from Nationwide Building Society show that the average house price has increased just below one per cent for the month in June, and by the same amount in the three months to June, compared to a 0.4 per cent fall in the quarter to May. The annual rate of decline stands at 9.3 per cent, down from 11.3 per cent in May.