The annual rate of house price growth was the weakest for two years in August, said Nationwide, despite a 0.3% monthly rise in prices.
The average house price in the UK is now £195,621, £342 more than in July. However, the annual pace of house price growth edged down to 3.2% from 3.5% the previous month.
“This month’s data provides further evidence that annual house price growth may be stabilising close to the pace of earnings growth, which has historically been around 4%,” said Robert Gardner, Nationwide’s chief economist.
