House price surveys cause confusion

Two surveys published this week have given mixed messages about the direction of house prices. The Nationwide Building Society’s survey showed that house prices were stabilising and actually rose in the UK during the month of June by 0.2%, with the average house worth £168,731, just 0.4% lower than a year ago. A second survey by the Land Registry agreed that prices had moved sideways during the month of June but said they were still down by 2.5% year on year; a more significant fall than was registered by the Nationwide. The average house price was £161,479 according to the Land Registry ...