RTTNews - Tuesday, the Nationwide Building Society said house prices in the U.K. rose 0.9% in June from the prior month, following a 1.3% increase in May. On a yearly basis, house prices were down 9.3% versus May's 11.3% decline. The price of a typical house totaled GBP 156,442 in June.
Martin Gahbauer, Nationwide's Chief Economist said, If the pattern of price movements seen in the first half of the year is repeated over the second half, then prices could show only a small single digit fall for 2009 as a whole.
In the second quarter, all regions see moderation in annual rate of price decline. For U.K. as a whole, house prices rose 1.1% between first and second quarter. House prices were down 11.7% annually, slower than the 16.5% fall seen in the first quarter.
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