UK house prices flat in June, says Nationwide; higher energy bills cap kicks in – business live

Key events Back to house prices. Jonathan Hoppe r, chief executive of Garrington Property Finders, said: double quotation mark The dust is settling but that doesn’t mean it’s back to business as usual. Nationwide’s data shows that at a national level, prices flatlined between May and June. The regional data reveals which areas have got back into their stride and which have not. Northern England, Scotland and Wales all saw their annual pace of growth improve during the last three months. The West Midlands saw the biggest turnaround in fortunes between the first and second quarters of the year, with annual price growth leaping from zero to 3.2%. The North-South divide continues to grow and could be turbocharged by a prime minister Burnham . A huge injection of government spending into the north could create a Burnham bounce that accelerates northern price growth further. Meanwhile Nationwide’s data offers some modest good news for central London, where the prolonged slide in average prices is over. Nevertheless the capital’s malaise has now spread to outer boroughs and the south-east commuter belt, where a glut of supply is holding down prices and allowing buyers to be choosy. As a result, even in highly desirable areas buyers are often able to demand – and get – significant price reductions; while those who are not convinced that a home is 100% right for them won’t hesitate to walk away. …