UK house prices edged down in April
3 May 2012: Nationwide's latest house price report shows that prices fell by 0.2% in April.
• Prices remain 0.9% lower than one year ago
• Price of a typical home is now £164,134
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “The price of a typical UK home fell by 0.2% in April, following a 1.0% decline in March. This is the fourth time in five months that prices have declined. House prices were 0.9% lower than April 2011.
“Much of the recent softness in measures of housing market activity and house prices is likely to relate to the expiry of the stamp duty holiday in late March. This provided a temporary boost to house prices in early 2012 as buyers brought forward purchases that would otherwise have taken place later in the year.
“This effect should fade in the months ahead, and measures such as the Government’s NewBuy scheme should provide some support to buyer demand. However, the challenging economic backdrop suggests that a significant acceleration in prices or activity is unlikely in the near term."
See the detailed report and graphs.