UK house prices unexpectedly rose in June, according to data from lender Nationwide that suggests the property market is stabilising ahead of expected interest rate cuts from the Bank of England.
Property prices were up 0.2 per cent between May and June, following a 0.4 per cent rise the previous month and contractions in March and April, new data showed on Monday.
The rise took the average house price to ￡266,604, which was 1.5 per cent higher than in the same month last year, up from 1.3 per cent in the previous month.
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