Private landlords looking to purchase property in the coming months will be faced with higher prices, it would seem.

Nationwide Building Society has today published its house price index for June, which shows that the average cost of a UK home stood at £156,442 during the month.

This represented a 0.9 per cent increase on May's figure and is the third month out of four that the building society has reported price hikes.

With the National Landlords Association set to give evidence about the limited availability of buy-to-let mortgage products for landlords in a Treasury Select Committee investigation, July could be an interesting time for property professionals.

Reflecting on the latest data, Nationwide's chief economist Martin Gahbauer said that sellers will feel more confident when putting their homes on the market.

"While it is encouraging to see that prices are no longer seeing steep falls, there are still many obstacles in the way of a genuine and sustainable price recovery,"he added.

Written by John Weeks

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