UK House Prices Experience a Slowdown

The annual growth of house prices in the United Kingdom decelerated to 3.4% in April, a noticeable decrease from the 3.9% recorded in March, as per the latest Nationwide House Price Index.

Monthly Decline Noted

Seasonally adjusted figures reveal a 0.6% drop in house prices on a monthly basis, with the average home now costing £270,752.

Stamp Duty Impact

Robert Gardner, Nationwide's chief economist, attributes the slowdown to recent stamp duty adjustments. "The anticipated softening in house price growth follows a surge in March transactions, as buyers rushed to avoid higher taxes," Gardner explained, predicting a continued gentle market in the near term.