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| UK house price growth slows in April, says Nationwide | UK house price growth slows in April, says Nationwide |
| (about 1 hour later) | |
| UK house price growth slowed in April, following the surge of buying in March, according to the Nationwide Building Society. | UK house price growth slowed in April, following the surge of buying in March, according to the Nationwide Building Society. |
| The annual pace of house price growth slowed to 4.9% in April, compared with 5.7% in the previous month. | The annual pace of house price growth slowed to 4.9% in April, compared with 5.7% in the previous month. |
| In April alone, house prices rose by just 0.2%, the lowest monthly increase since last November. | In April alone, house prices rose by just 0.2%, the lowest monthly increase since last November. |
| The number of property sales in March hit a record high, as landlords rushed to beat a rise in stamp duty. | The number of property sales in March hit a record high, as landlords rushed to beat a rise in stamp duty. |
| There were 165,400 transactions during the month, according to HM Revenue and Customs (HMRC), higher than the previous peak of 149,000 in January 2007. | There were 165,400 transactions during the month, according to HM Revenue and Customs (HMRC), higher than the previous peak of 149,000 in January 2007. |
| "It may be that the surge in house purchase activity resulting from the increase in stamp duty on second homes from 1 April provided a temporary boost to prices in March," said Robert Gardner, Nationwide's chief economist. | "It may be that the surge in house purchase activity resulting from the increase in stamp duty on second homes from 1 April provided a temporary boost to prices in March," said Robert Gardner, Nationwide's chief economist. |
| Nationwide's figures show that the price of the average house or flat in the UK increased to a new record high of £202,436. | |
| "House purchase activity is likely to fall in the months ahead given the number of purchasers that brought forward transactions," said Mr Gardner. | "House purchase activity is likely to fall in the months ahead given the number of purchasers that brought forward transactions," said Mr Gardner. |
| "The recovery thereafter may also be fairly gradual, especially in the BTL [Buy-To-Let] sector, where a wealth of other policy changes, such as the reduction in tax relief for landlords from 2017 are likely to exert an ongoing drag." | "The recovery thereafter may also be fairly gradual, especially in the BTL [Buy-To-Let] sector, where a wealth of other policy changes, such as the reduction in tax relief for landlords from 2017 are likely to exert an ongoing drag." |