2 May

UK house prices show little change throughout April

UK house prices show little change throughout April

The price of homes for sale across the UK with estate agents remained at a stable level throughout April as the market continued to show a strength boosted by recent changes.

In the Budget at the end of March, the government said that it would be extending the NewBuy scheme to existing homeowners, while it also added Funding for Lending in the middle of last year to boost the number of people able to buy.

This has helped to halt the falls previously seen in the earlier months of the year, and Nationwide now reports that the average price for buying a house in April sits at £165,586.

This means that the mean final sale value in the UK sits 0.1 per cent lower than it did in March of this year. However, it is 0.9 per cent higher than at the same time 12 months ago, showing that the market is improving.

Robert Gardner, Nationwide's chief economist, said: "House prices were little changed in April, declining by 0.1 per cent compared to March after taking account of usual seasonal effects.  Nevertheless, there is some evidence that activity and prices have gained some momentum in recent months," adding that the number of mortgages being approved was proving to be a big factor.ADNFCR-1222-ID-801580601-ADNFCR

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