Nationwide May housing data - reporting a rise!!

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Nationwide have released their May data report today here.

The data shows a rise of 1.2% for the month with an annual change of -11.3%. House prices are now down from their peak in October 2007 of £186,044 by £32,028 or -17%.

Nationwide report this as a surprise bounce and expect a continuation of monthly rises and falls.

During the last housing market crash between 1989 and 1995, there were 24 +ve months and 48-ve months.

I agree with Nationwide's assessment that we are entering a phase of volatile house price data before settling at the end of this year and entering a subdued growth period.