UK house prices fall but market ‘likely to pick up’ during summer

Stamp duty discounts became less generous for some buyers in England and Northern Ireland from 1 April. Photograph: ColsTravel/Alamy

UK house prices dipped by 0.6% on average in April compared with a month earlier, according to a building society, as the market cooled slightly after the rush to beat changes to stamp duty in England and Northern Ireland.

Across the UK, the annual rate of house price growth slowed to 3.4% in April, from 3.9% in March, taking the average property value in April to £270,752, Nationwide said.