UK annual house price growth lowest since mid-2013 – Nationwide

Prices rose 0.3 percent from July to an average 195,279 pounds ($302,000), the lender said in a statement on Thursday.

United Kingdom house price inflation eased to a more than two-year low in August, data from Nationwide Building Society showed Thursday.

“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.

On a monthly basis, house price inflation eased marginally to 0.3 percent from 0.4 percent in July. The trend won’t last unless the supply of homes increases to match rising demand, he said. The annual pace of price growth is now less than a third of what it was a year ago, hitting double digits for much of last summer, with a 11 per cent annual increase recorded in August 2014.

BoE Deputy Governor Ben Broadbent said earlier this month he didn’t view the housing market “with great alarm”.