Nationwide announce drop in house prices in March

March 29, 2012

CIA Let Property Blog

Nationwide have reported a 1% drop in house prices in March compared to prices in February.

The building society have said that the average home has now gone down by 0.9% in price compared to a year earlier. The average price now being £163,327 it is the biggest annual fall since June 2011.

Nationwide have commented on the stamp duty changes and have blamed the slowdown on this.

Nationwide’s Chief Economist, Robert Gardner had said: “In our view the changing economic back drop is likely to continue to act as a drag, with house prices moving sideways or modestly lower over the next 12 months”.

 

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