According to the latest Nationwide House Price Index datas, UK house prices show second consecutive monthly decline in April. Annual house price growth dips to 2.6% – its weakest pace for almost four years.The average house price was £207,700 in April.
Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said:
“House prices recorded their second consecutive monthly fall in April, while the annual rate of growth slowed to 2.6%, the weakest since June 2013.
“In some respects, the softening in house price growth is surprising because the unemployment rate is near to a 40- year low, confidence is still relatively high and mortgage rates have fallen to new all-time lows in recent months.
“While monthly figures can be volatile, the recent softening in price growth may be a further indication that households are starting to react to the emerging squeeze on real incomes or to affordability pressures in key parts of the country.