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Annual home prices development has floor to a halt, in response to Halifax, whereas prices within the south of England have come below the best stress.

Nationally, common property prices are largely unchanged from this time final yr, with the speed of annual home worth inflation slowing to 0.1pc, from 1.6pc in March.

House prices fell 0.3pc in April in comparison with the earlier month, following a 0.8pc rise in March.

This meant the common property worth in April was £286,896, Halifax stated, in comparison with £287,880 in March.

The 4 areas of southern England have seen common home prices fall over the past yr, with the South East registering the most important dip, down 0.6pc to a mean home worth of £387,469.

Kim Kinnaird, director at Halifax Mortgages, stated: “Cost of dwelling considerations stay actual for a lot of households, which is able to probably proceed weigh on sentiment and exercise.

“Combined with the influence of upper rates of interest regularly feeding by way of to these re-mortgaging their present fixed-rate offers, we must always count on some additional downward stress on home prices over course of this yr.”

It comes after figures from rival lender Nationwide indicated that home prices grew for the primary time in eight months in April amid indicators that mortgage functions are choosing up.

The lender stated prices rose by 0.5pc in comparison with the earlier month, with the annual fee of worth declines additionally slowing to 2.7pc from a fall of 3.1pc in March.

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