UK house prices fall in April as new tax bites: Halifax

[LONDON] British house prices fell more sharply than expected last month after the introduction of a new tax on the purchase of rental properties, mortgage lender Halifax said on Monday.

House prices fell by a monthly 0.8 per cent in April following a 2.2 per cent leap in March. Economists taking part in a Reuters poll of economists had expected a fall of 0.4 per cent.

Compared with the same period last year, house prices rose by 9.2 per cent in the three months to April, slowing from an increase of 10.1 per cent in the three months to March.

REUTERS