The rate at which house prices are rising fell for the third month in a row in June, although the housing market is showing more resilience than some economists had feared.

The average price of a home in the UK rose another 0.3 per cent in June, the smallest monthly increase since last September, to a record of £271,613, according to the latest data from Nationwide.

That is £26,181, or 10.7 per cent, more than a year ago but the annual house price inflation reading has fallen in each month since peaking at 14.3 per cent in March.

There have been “tentative signs of a slowdown”, Nationwide said, with mortgage approvals falling back towards pre-pandemic levels and agents reporting a softening in inquiries from would-be

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