House prices creep up in April: Nationwide

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House prices rose by 0.2 per cent month-on-month in April, according to the latest Nationwide house price index.

The year-on-year change is 2.6 per cent, and the lender says the average house price is now £213,000.

Nationwide chief economist Robert Gardner says: “There was a slight pickup in UK annual house growth in April to 2.6 per cent, from 2.1 per cent in March. House prices rose by 0.2 per cent over the month, after taking account of seasonal
factors.”

Mortgage Advice Bureau head of lending Brian Murphy says: “Whilst growth is, at best, incremental, it does at least point to a market which remained robust in the first four months of this year, and one that is performing within the parameters expected by analysts who predicted that annual house price growth would be at around this level in 2018.”

The Nationwide figures are not seasonally adjusted.

Foundation Home Loans director of marketing Jeff Knight says: “Cities in the North of England are experiencing sustained price growth, adding to the already substantial challenge facing those looking to get one foot on the property ladder and pinning their hopes on a home outside the capital.

“Even with stamp duty cuts and low mortgage rates alleviating some of the pain points experienced by renters and buyers alike, affordability continues to remain a concern for the majority of those looking for their first or second home.”

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