Nationwide housing market research 'shows stable picture'

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Nationwide housing market research 'shows stable picture'

A new Nationwide housing market document shows that UK property values have seen an increase since the beginning of the year.

Martin Gahbauer, chief economist at the financial services provider, made his comments after the firm released its monthly index, which edged up to 336 points in June, from 335.7 in May.

"The price of a typical UK property rose by a seasonally adjusted 0.1 per cent month-on-month, following a 0.5 per increase in May," he explained.

In his view, this represents a fairly stable picture in the housing market and shows there has been an average cumulative rise in property prices of three per cent since the beginning of 2010.

Mr Gahbauer also highlighted the drop in house price inflation, which he suggested could be affected by the abolition of HIPs by the new coalition government.

This month, Nationwide housing market representatives handed out several awards for sustainability at a ceremony in London, with the overall winners being named as Matthew Kidner and Jonathan Davey of the University of Nottingham.

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