Average house price in UK increases in April
According to the Nationwide House Price Index, UK house prices increased by 0.2 percent in April from March, rose by 4.9 percent compared to the last year.Average home price reached £202,436 in April.
Commenting on the figures, Robert Gardner,Nationwide’s Chief Economist, said:
“While UK house prices edged up 0.2% during the month of April, the annual rate of house price growth moderated to 4.9% from 5.7% in March.This slowdown returns the annual pace of house price growth to the fairly narrow range between 3% and 5% that had been prevailing since the summer of 2015.”
“It may be that the surge in house purchase activity resulting from the increase in stamp duty on second homes from 1April provided a temporary boost to prices in March.”
“However, it is possible that the recent pattern of strong employment growth, rising real earnings, low borrowing
costs and constrained supply will tilt the demand/supply balance in favour of sellers and exert upward pressure on
price growth once again in the quarters ahead.”