House prices fell in April as the rush to beat the end of the stamp duty threshold relief faded, according to data released by Nationwide, the UK’s largest building society.
Prices fell by a bigger-than-expected 0.6 per cent month-on-month, the largest monthly decline since August 2023. Annual growth slowed to 3.4 per cent from 3.9 per cent in March.
An average home now costs £270,752.
Robert Gardner, Nationwide’s chief economist, said: “The softening in house price growth was to be expected, given the changes to stamp duty at the start of the month. Early indications suggest there was a significant jump in transactions in March, with buyers bringing forward their purchases to avoid additional tax obligations.”
Since April 1, first-time buyers in England and Northern
