Annual house price growth slows slightly in April
- Annual rate of house price growth slowed to 3.4% in April, from 3.9% in March
- House prices down 0.6% month-on-month
| Headlines | Apr-25 | Mar-25 |
|---|---|---|
| Monthly Index* | 539.3 | 542.4 |
| Monthly Change* | -0.6% | 0.0% |
| Annual Change | 3.4% | 3.9% |
|
Average Price (not seasonally adjusted) |
£270,752 | £271,316 |
*Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are re-estimated)
Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said:
“April saw a slowing in UK house price growth to 3.4%, from 3.9% in March. House prices fell by 0.6% month on month, after taking account of seasonal effects.
“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.
“The market is likely to remain a little soft in the coming months, following the pattern typically observed following the end of stamp duty holidays. Nevertheless, activity is likely to pick up steadily as summer progresses, despite wider economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive.
“Unemployment remains low, earnings are rising at a healthy pace in real terms (i.e. after accounting for inflation), household balance sheets are strong and borrowing costs are likely to moderate a little if Bank Rate is lowered further in the coming quarters as we and most other analysts expect. Indeed, swap rates (which underpin fixed rate mortgage pricing) have moderated in recent weeks.”
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