India, Sept. 1 -- UK house prices logged a slower pace of growth in August due to stretched affordability, the Nationwide Building Society said Monday.
House prices increased 2.1 percent on a yearly basis in August, slower than the 2.4 percent rise seen in July.
On a monthly basis, house prices edged down 0.1 percent, in contrast to the 0.5 percent increase in the previous month. Prices were forecast to rise 0.1 percent.
"The relatively subdued pace of house price growth is perhaps understandable, given that affordability remains stretched relative to long-term norms," Nationwide's Chief Economist Robert Gardner said.
Gardner said, "House prices are still high compared to household incomes, making raising a deposit challenging for prosp...