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The Nationwide Building Society released its house prices data for the U.K. on Thursday. UK house prices declined 0.2% in June, missing expectations for a 0.5 percent rise, after a 0.2% rise in May. May's figure was revised down from a 0.3% increase.
On a yearly basis, house prices fell to 3.3% in June from 4.6 percent in May, missing forecast of a 4.3% gain.
"House price growth continues to outpace earnings, but the gap is closing, helped by a pickup in annual wage growth, which moved up to 2.7% in the three months to April from 1.9% at the start of the year," Nationwide's chief economist, Robert Gardner, said.
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