The Nationwide Building Society released its house prices data for the U.K. on Thursday. UK house prices were up 0.2% in April, missing expectations for a 0.4% rise, after a 0.8% increase in March.
On a yearly basis, house prices fell to 4.9% in April from 5.7% in March. Analysts had expected house prices to decline by 5.0%.
“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,” Nationwide’s Chief Economist, Robert Gardner, said.
“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,” he added.
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