UK house price growth slows as cost of living crisis starts to hit market

The average price of a UK home has risen by almost £50,000 since the start of the coronavirus pandemic in March 2020, according to Nationwide. Photograph: Andrew Findlay/Alamy

House prices continued to climb in April but the rate of growth is slowing as soaring inflation and the cost of living crisis starts to affect the market, figures show.

The average amount paid for a home in the UK climbed 0.3% to £267,620 in April on a month earlier, Nationwide found, the ninth consecutive month of growth.