UK house prices stagnate as London lags

UK house prices remained unchanged at £271,316 in March, with an annual growth rate of 3.9%, according to the Nationwide Building Society. London experienced the lowest annual growth of all the regions, at 1.9%, with an average price of £529,369, while Northern Ireland surged to 13.5%, the highest since 2021. Robert Gardner, Nationwide's chief economist, commented: "The market is likely to remain a little soft in the coming months", following the end of the stamp duty holiday. Despite the current stagnation, Mr Gardner anticipates a gradual recovery in activity as summer approaches, supported by low unemployment and rising earnings. However, the increase in electricity, water, and council taxes, among other family expenditures, which started on April 1st, will put additional strain on household budgets. 

Daily Mail (01/04/2025)   Financial Times (01/04/2025)   The Guardian (01/04/2025)   The Standard (01/04/2025)