House prices in the United Kingdom decrease in April with high stamping taxes, data appears

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House prices in the UK were contracting more than expected in April, where it deployed the monthly decrease within 20 months, with the increase in the tax imposed on property purchases, according to a lender throughout the country.

Prices decreased by 0.6 percent in April, lower than the zero growth expected by the Economists that LSEG incurred, as the average price of the house reached 270,752 pounds, the data showed on Wednesday. This was the largest monthly decline since August 2023, when prices were contracted at the same pace.

“Softening in Home price It was expected to grow, given the changes in the duty of stamps at the beginning of the month.

“Early indicators indicate a great leap in transactions in March, as buyers offer their purchases to avoid additional tax obligations.”

He added: “The market is likely to remain somewhat soft in the coming months, following the pattern that was usually observed after the end of the stamp fees.”

The data provides the first indication of the impact of the diaphragm changes in the UK housing market. Duspical seal sills returned to pre -2022 levels on April 1, which increased the tax cost of many real estate buyers.

For example, buyers will start for the first time to pay a fee for real estate worth 300,000 pounds or more, instead of the current 425,000 pounds.

NASWIDE said that the prices of home are still 3.4 percent higher than April of last year, but less than the expectations of analysts of 4.1 percent and a decrease in an annual increase of 3.9 percent in the previous month.

Gardner said he expected to pick up the activity from the summer, with the support of high profits at a faster rate of inflation, low unemployment levels and low mortgage rates.

In recent weeks, the swap rates, which support fixed mortgage pricing, have decreased in recent weeks after the announcement of the American definitions of goods imported from most countries, which amounted to global growth prospects.

The Bank of England is widely expected to reduce interest rates by a quarter to 4.25 percent when policy makers meet next week, with other discounts to three discounts before the end of the year.

“Sub -mortgage rates are 4 percent are increasingly available, with basic real estate mortgage cheaper and reflection rates for borrowers who are approaching their current deals, it indicates a low environment to move forward,” said Mark Harris, CEO of SPF.

Sandra Horsfield, economist at Investec Bank, said that the ongoing lower trend of prices may “may tempt more buyers in the market and raise home prices more clearly in the coming months.”