UK House Price Growth Shows Signs of Softening

According to the latest Nationwide House Price Index, the United Kingdom experienced a 3.4% annual growth in house prices this April, a slight decrease from the 3.9% observed in March.

Monthly Trends and Average Prices

On a seasonally adjusted monthly basis, the index saw a 0.6% decline, with the average house price in April recorded at £270,752.

Expert Insights on Market Dynamics

"The anticipated softening in house price growth can be attributed to the recent stamp duty adjustments. March witnessed a notable surge in transactions as buyers rushed to circumvent the new tax obligations," explained Robert Gardner, Nationwide's chief economist. He further predicted a continued mild softening in the market in the upcoming months.