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British house price growth slows again in June

Xinhua, July 2, 2015 Adjust font size:

British house prices fell by 0.2 percent monthly in June, according to the Nationwide, one of the country's largest mortgage providers.

Annual house price growth moderated to 3.3 percent from 4.6 percent in May, its lowest level for two years, said the Nationwide in its monthly house price report published on Thursday.

Average Price stood at 195,055 pounds (about 306,739 U.S. dollars) before seasonally adjusted, it added.

"The small dip in prices in June reported by the Nationwide is not a sign of a cooling market," said Matthew Pointon, Property Economist of the Capital Economics.

"The underlying three-month on three-month rate actually picked up to 1 percent, the strongest gain since the start of 2015. And a rise in prices of just 0.2 percent month-on-month in July would be enough to reverse the downwards trend in the annual rate of growth," he added. Endit