House prices down 0.2% in April

UK house prices fell by 0.2% in April, according to the Nationwide house price index.

Prices remain 0.9% lower than one year ago, making the price of a typical home £164,134.

Robert Gardner, chief economist at Nationwide, says: “This is the fourth time in five months that prices have declined. House prices were 0.9% lower than April 2011.

“Much of the recent softness in measures of housing market activity and house prices is likely to relate to the expiry of the Stamp Duty holiday in late March. This provided a temporary boost to house prices in early 2012 as buyers brought forward purchases that would otherwise have taken place later in the year.”