By Daniel Hunter
Data released by the Nationwide building society today (Thursday) suggest that house prices in the UK are in gentle decline.
Its latest monthly survey says prices dropped by 0.2% in April, leaving them 0.9% down on a year ago.
The average price of a property is now £164,134, following four out of the last five months seeing declines.
"The price of a typical UK home fell by 0.2% in April, following a 1.0% decline in March. This is the fourth time in five months that prices have declined. House prices were 0.9% lower than April 2011," Robert Gardner, Nationwide's Chief Economist, said.
"Much of the recent softness in measures of housing market activity and house prices is likely to relate to the expiry of the stamp duty holiday in late March. This provided a temporary boost to house prices in early 2012 as buyers brought forward purchases that would otherwise have taken place later in the year."
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