UK house price growth cools after land tax changes: Nationwide

[LONDON] British annual house price growth cooled in April after the government introduced extra taxes on second home purchases, according to a survey from mortgage lender Nationwide on Thursday.

House price growth cooled to 4.9 per cent year-on-year from 5.7 per cent in March, slightly less than forecast in a Reuters poll.

On the month, house prices edged up 0.2 per cent. Nationwide said the slowdown followed a surge of activity in March ahead of an April 1 increase in stamp duty tax for second homes purchases.

REUTERS