Wed, 30 Apr 2025

Wed, 30 Apr 2025 House prices fall in April as stamp duty changes kick in

The slowdown in the market was expected due to the lowering of thresholds at which buyers need to start paying stamp duty.

* House prices fell by 0.6% in April due to increased stamp duty charges.
* Annual house price growth slowed, but homes remain 3.4% more expensive than a year ago, with an average price of £270,752.
* The slowdown was expected due to changes in stamp duty thresholds that came into effect on 1 April.
* Nationwide's chief economist predicts the market will be "a little soft" in coming months, but expects buying to pick up over summer as earnings rise and interest rates are cut further.
* First-time buyers now have to pay stamp duty on homes costing more than £300,000, up from £425,000 previously.
* A mini price war has broken out between mortgage providers, with many offering fixed deals below 4% interest rate.
* Economists predict house prices will rise by 3.5% this year and 4.5% in 2026.
* Expectations are growing that the Bank of England could cut interest rates three more times this year due to global trade tensions.
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