UK July Nationwide house price index +1.3% m/m, -6.2% y/y

UK July Nationwide house price index has come in at +1.3% m/m, -6.2% y/y. The y/y fall is the smallest since June 2008.

It’s the third month running house prices have risen according to Nationwide, and the building society feels that UK house prices could end 2009 higher than where they started.

Cable steady at higher levels, presently around 1.6430.