Up 0.6% yr/yr (Il Sole 24 Ore Radiocor) - London, 02 May - In April, house prices in the UK fell a seasonally adjusted 0.4% from March when they fell 0.2%, according to data released by building society Nationwide.

Year on year, house prices rose an unadjusted 0.6%, accelerating from the 1.6% increase seen in the earlier month. The average unadjusted price of a house in the UK now stands at 261,962 pounds against 261,142 pounds the previous month.

'The slowdown likely reflects ongoing affordability pressures, with longer term interest rates rising in recent months, reversing the steep fall seen around the turn of the year. House prices are now around 4% below the all-time highs recorded in the summer of 2022, after taking account of seasonal effects," said Robert Gardner, Nationwide's chief economist.

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(RADIOCOR) 02-05-24 08:33:39 (0147) 5 NNNN