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Thursday, April 28, 2016

Property inflation slows - Nationwide

It's time for another Nationwide's house price index.

Data from the bank shows an increase of  0.2 % in April, slowing their annual house price inflation  to 4.9%.

The average UK house price rose from £200,251 to £202,436.

Their Chief Economist, Robert Gardner comments:

“While UK house prices edged up 0.2% during the month of April, the annual rate of house price growth moderated to 4.9% from 5.7% in March.

This slowdown returns the annual pace of house price growth to the fairly narrow range between 3% and 5% that had been prevailing since the summer of 2015. 

It may be that the surge in house purchase activity resulting from the increase in stamp duty on second homes from 1 April provided temporary boost to prices in March.  

However, it is possible that the recent pattern of strong employment growth, rising real earnings, low borrowing costs and constrained supply will tilt the demand/supply balance in favour of sellers and exert upward pressure on price growth once again in the quarters ahead."

Read the Nationwide's house price index for April 2016

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