A closely watched house price index has reported house price growth slowing to a five year low in June. According to the latest Nationwide House Price Index, annualised growth slowed to 2% in June. It was recorded at 2.4% last month. Taking account of seasonal factors, monthly growth slowed to 0.5% during the month. London was the worst performing part of the country for house prices, with average prices there falling by 1.9% year-on-year.