House prices up 12% but rises expected to slow

Property prices have risen by 12.1% in the past year but the rate of increase is set to slow, according to the Nationwide. The mortgage lender said that the increase in April was lower than in March, and the trend was likely to continue as budgets were squeezed. The likelihood of further interest rate rises could also affect the market. First-time buyers will still be concerned that annual price rises have been in double digits for months. In all but one month in the past year, annual house price rises have been higher than 10%, the Nationwide said. Across the UK, it said the average house price in April was £267,620. 

BBC News (29/04/2022)