No end in sight for house price growth slowdown

The annual rate of house price growth edged higher in April, after two consecutive months of decline, according to Nationwide. House prices rose by 2.6% in the year to April to reach an average price of £213,000, up from £211,625 in March. In monthly terms prices rose by 0.2%, after falls in March and February, and the annual rate of growth remains down from 4.9% in April 2016. The share of cash transactions has dipped slightly since the introduction of the additional stamp duty levy on second properties, while first-time buyer levels are back "broadly in line" with pre-crisis levels, Nationwide added. Robert Gardner, Nationwide’s chief economist, said subdued economic activity and the ongoing squeeze on household budgets meant the slowdown would continue.

Financial Times (27/04/2018)