Stamp duty hit dampens house prices

Press Association
for sale signs
for sale signs

Rui Vieira/PA Wire/Press Association Images

House prices have recorded a monthly fall of 1%, as the ending of a first-time buyer stamp duty concession is likely to have dampened the market, a study has found.

Prices fell year-on-year by 0.9% in March, the first annual drop in six months, to reach £162,712 typically, reflecting the expected slowdown as the two-year stamp duty holiday came to an end last week, Nationwide said.