House price growth 'slowest in 12 years'

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House prices have grown by just 1.1% over the past year, the lowest annual growth rate since 1996, according to Nationwide's house price index.

Nationwide says consumer sentiment is beginning to shift, with many expecting house prices to have fallen 3% on an annual basis within six months. The provider's latest index shows the average price of a home fell by 0.6% between February and March, down from £179,358 to £179,110. Annual house price growth also took a major hit, falling from 2.7% in February to 1.1% in March, meaning homes are worth an average of just £2,027 more than they were this time last year. Nationwide says consumers are starting to have a more negative view of the housing market, but more than two thirds still be...

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