• Annual house prices rise by 0.9%
  • House prices rise 0.4% in April
  • First time buyers increase

House prices grew by 0.4% in April, with the average UK house price now standing at £214,920. Annual house price growth still remains subdued at just 0.9%.

First time buyers increase

The latest figures from Nationwide show an increase in first time buyers, helped by low mortgage rates, rising unemployment and earnings growth.

Whilst house prices still remain high relative to average earnings, low mortgage rates continue to help mortgage affordability.

Robert Gardner, Nationwide’s Chief Economist, said: “UK house price growth remained subdued in April, with prices just 0.9% higher than the same month last year.

“Indicators of housing market activity, such as the number of property transactions and the number of mortgages approved for house purchase, have remained broadly stable in recent months, even though survey data suggests that sentiment has softened”

Source: Nationwide
Monthly Index*428.8427.2
Monthly Change*0.4%0.2%
Annual Change0.9%0.7%
Average Price (not seasonally adjusted) £214,920 £213,102
* Seasonally adjusted figure