30th Apr 2025 07:31
(Alliance News) - The annual rate of UK house price growth slowed in April and the monthly decrease in prices surpassed consensus, according to data from Nationwide on Wednesday.
The annual rate of UK house price growth slowed to 3.4% in April, from 3.9% in March, and house prices decreased on-month by 0.6% to GBP270,752 from GBP271,316.
The monthly decrease surpassed the FXStreet-cited consensus forecast of a 0.1% decline. The monthly index posted 539.3 for April, down from 542.4 in March.
"The softening in house price growth was to be expected, given the changes to stamp duty at the start of the month," Nationwide Chief Economist Robert Gardner said. "Early indications suggest there was a significant jump in transactions in March, with buyers bringing forward their purchases to avoid additional tax obligations.
"The market is likely to remain a little soft in the coming months, following the pattern typically observed following the end of stamp duty holidays. Nevertheless, activity is likely to pick up steadily as summer progresses, despite wider economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive."
By Emma Curzon, Alliance News reporter
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