Four-month fall in house prices
The 0.2 per cent monthly drop in April follows a steeper 1 per cent fall recorded the previous month, meaning average UK house prices now stand at £164,134, the building society said.
Prices remain 0.9 per cent lower than a year ago and the market was likely to remain “subdued” over the next 12 months as people stay cautious about the state of the economy.
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Hide AdThe study suggested that the ending of a stamp duty concession for first-time buyers in March had temporarily boosted sales by people trying to beat the deadline
The recent return to a recession was likely to undermine “fragile” confidence even further.