UK house prices stagnated in April after falling in March, according to mortgage lender Halifax, highlighting volatility in the data as mortgage rates increased again since February.
The average house price rose by 0.1 per cent between March and April following a 0.9 per cent monthly fall in March.
The average UK property now costs £288,949, compared with £287,244 at the start of the year.
Amanda Bryden, Halifax’s head of mortgages, said, “a degree of volatility is to be expected given current market conditions”.
Mortgage rates have risen on the expectation that interest rates will remain higher for longer than was forecast in January.