Nationwide House Price Peak

Nationwide House Price Peak.

Nationwide have released figures which show that average house prices are now higher than the 2007 peak. This was after house prices rose 1% in June and resulted in prices being 11.1% higher than a year earlier.

The average value of a UK property is £188,903, however in London for the first time, house prices have risen above £400,000.

Nationwide have said that despite the house rise price acceleration variation has been seen in different areas of the country.

Nationwide are expecting price gains to slow in London from July onwards, this was based from evidence from surveyors. Many surveys all show that the south of England saw the strongest growth.

The pace of rises for house prices is expected to slow as the new rules for mortgages continues to have an effect on mortgage approvals.