The average UK house price hit a new record high in June, but there are “tentative signs of a slowdown”, according to the latest Nationwide Building Society index.
Prices were up by 10.7% in June, slowing from 11.2% in May, with the average house price in June standing at £271,613 - up by 0.3% month on month.
Nationwide’s chief economist Robert Gardner said: “There are tentative signs of a slowdown, with the number of mortgages approved for house purchases falling back towards pre-pandemic levels in April and surveyors reporting some softening in new buyer inquiries.
