Property price growth dropped to its lowest in two years according to reports by the Nationwide building society.

Annual house price inflation fell to 3.3{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} last month (June), down from 4.6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} in May. In comparison, property prices were rising by 11.8{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} the same period last year.

In addition, property prices in Scotland and Wales have actually reduced in value over the last 12 months.

The average cost of a property in the UK is now £195,055.



Source: BBC News business