Annual house price growth rises to 2.2% in June, Nationwide says, with prices flat on the month

Nationwide's index, published 1 July, shows annual house price growth picking up to 2.2% in June from 1.7% in May, with the average price at £277,484 and prices broadly flat month on month. Easing market interest rates, as the energy-price shock subsides, are feeding through to fixed mortgage pricing and supporting values. For buyers, affordability is loosening slightly and there is plenty of choice, particularly across southern England where growth is weakest; for sellers, realistic pricing still matters, with the Outer South East up just 0.1% over the year against 8.6% in Northern Ireland. This is a market steadying rather than accelerating, and mortgage approvals fell noticeably in May.