House prices down 0.2% in April

The price of a typical UK home fell by 0.2% in April, following a 1% decline in March, according to the Nationwide Building Society.

This is the fourth time in five months that prices have declined. House prices were 0.9% lower than April 2011.

The average price of a home (not seasonally adjusted) is now £164,134

Robert Gardner, Nationwide’s chief economist, said: “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.”