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3/31, 8:05 AM (Source: TeleTrader)
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UK annual house price growth down to 5.7% in March

Annual house price growth in the United Kingdom was reported at 5.7% in March, according to the Nationwide House Price Index released on Wednesday. The figure marks a decrease from February when annual house price growth stood at 6.9%.

On a monthly basis, the index was down by 0.2%, while the average house price in the country in March stood at £232,134.

"Given that the wider economy and the labor market has performed better than expected in recent months, the slowdown in March probably reflects a softening of demand ahead of the original end of the stamp duty holiday before the Chancellor announced the extension in the Budget," Nationwide's chief economist, Robert Gardner, said.

Baha Breaking the News (BBN) / NP