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UK house price rises slow down in March as demand softens: Nationwide
House price growth slowed down this month with prices going up by 5.7 per cent compared to March of last year, mortgage lender Nationwide said this morning.
Last month, property prices rose by an annual 6.9 per cent, while house prices edged down by 0.2 per cent month-on-month in March.
Across the UK, the average house price was £232,134, Nationwide found.
“The slowdown in March probably reflects a softening of demand ahead of the original end of the stamp duty holiday before the Chancellor announced the extension in the Budget,” Robert Gardner, Nationwide’s chief economist, explained this morning.