Prices rose 1.1% month-on-month in June, reversing the previous three months' falls.

Annual house price growth rises to 3.1%

Gap in house price growth between strongest and weakest performing regions in Q2 is the smallest on record

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "UK house prices rebounded in June, with prices rising by 1.1% during the month, erasing the decline recorded over the previous three months. However, monthly growth rates can be volatile, even after accounting for seasonal effects. "The annual rate of house price growth, which gives a better sense of the underlying trend, continues to point to modest price gains. Annual house price growth edged up to 3.1% from 2.1% in May. In effect, after two sluggish months, annual price growth has returned to the 3-6% range that had been prevailing since early 2015.