UK house prices fell by 0.2 pct in June from May, while the annual rate of growth fell to its lowest rate since July 1996, according to figures released by Nationwide, the UK's largest building society. In May, prices rose by 0.3 pct. Compared with a year earlier, prices rose just 4.1 pct, compared with a 5.5 pct rise in May. The price of an average house now stands at 157,791 stg, compared with 157,272 last month. Recent evidence has suggested that the housing market could be picking up again, with mortgage lending data from the Bank of England yesterday showing a much stronger-than-expected rise. This survey is likely to reignite fears that the housing market is still stagnating, however, and will encourage speculation that the BoE will cut interest rates sooner rather than later.