House prices recorded a monthly fall of 1pc in March - its worst monthly fall in two years - as the stamp duty holiday for first-time buyers came to an end, the Nationwide reported. Prices fell year-on-year by 0.9pc in March, the first annual drop in six months, to reach £162,712 on average, according to the Nationwide report.
It predicted that prices will head sideways or downwards over the coming year as the weak economy acts as a continuing "drag".
Estate agents and lenders had reported a surge in first-time buyer interest in recent months as the stamp duty deadline approached, but fears were raised that this would be followed by a dip once the 1pc duty for first-time buyers on properties worth between £125,000 and £250,000 was reinstated. Read More
