New figures have revealed a slight increase in UK house prices between June and July.

Data by Nationwide states the average price rose 0.3% in July, from £211,301 to £211,671.

Over the last year, prices are up by 2.9%, slightly lower than last month's rate of 3.1%..

Commenting on the figures, Nationwide's Chief Economist Robert Gardner said a lack of new homes coming onto the market is helping to support house price growth.


"Survey data point to relatively sluggish levels of new buyer enquiries, but at the same time surveyors report that relatively few properties are coming onto the market," he said.

"Constrained supply is likely to continue to provide support for house prices and, as a result, we continue to expect prices to rise by c.2% over 2017 as a whole - only modestly lower than the levels recorded in recent months."

(LM)