RTTNews - House prices in the UK dropped 13% year-on-year in April, after falling 13.6% in March, the Department of Communities and Local government said in a report Tuesday. Economists expected a fall of 13.3%.
Month-on-month, house prices rose 1.1% in April, faster than a 0.4% increase in March. The mix-adjusted average house prices for the UK stood at GBP189,215 in April, up from GBP187,193 in March.
In the quarter ended April, house prices dropped 3% compared to a 3.9% fall in the quarter ended January.
In April, annual average house prices fell 13.2% in England, 10.3% in Wales, 8.6% in Scotland and 22.8% in Northern Ireland.
Annual average house prices paid by first time buyers dropped 16% annually in April, while average house prices paid by former owner occupiers were down 11.9% from the same month last year.
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