UK annual house price growth lowest since mid-2013: Nationwide

[LONDON] British house prices increased this month at the slowest annual pace in more than two years, a survey from mortgage lender Nationwide showed on Thursday.

House prices rose 3.2 per cent year-on-year in August, the weakest annual rate since June 2013, compared with a 3.5 per cent rise in July.

Economists polled by Reuters had expected the rate of growth would fall to 3.1 per cent this month.

On a monthly basis, house prices rose 0.3 per cent, in line with expectations and down slightly from a 0.4 per cent increase in July.

REUTERS