The cost of apartments and houses in the UK decreased by an average of 0.6% in April 2025 compared with March, according to Nationwide. The annual rate of price increase slowed to 3.4% from 3.9% a month earlier.
Robert Gardner, Nationwide's chief economist, said: "A slowdown in house price growth was to be expected, given the changes in stamp duty since the beginning of the month."
"Early data suggests that there was a significant jump in sales in March, as buyers sought to make deals to avoid additional tax obligations." Since the beginning of April, stamp duty relief has ended in England and Northern Ireland. Nationwide expects the housing market to remain subdued in the coming months, as it usually does after the end of the stamp duty holidays.First-home buyers in England will now pay stamp duty if the property is worth 300,000 pounds, rather than 425,000, as before the end of the tax holidays. Everyone else will have to pay stamp duty on purchases starting from 125,000 pounds. The tax on the purchase of second homes also increased by two percentage points to 5%.
However, Nationwide predicts that demand will steadily increase over the summer, despite the uncertainty in the global economy, as conditions remain favorable for potential home buyers.
Sources: The Guardian, ET Realty
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