UK house prices increased at the fastest pace since 2017 in April before the pandemic struck the [economy][1], data published by the Nationwide Building Society showed Friday.
House prices increased 3.7 percent on a yearly basis in April, faster than the 3 percent rise in March. The annual growth was forecast to ease to 2.5 percent. The latest increase was the strongest since February 2017.
Month-on-month, house prices grew 0.7 percent after climbing 0.8 percent in the previous month.
Robert Gardner, Nationwide’s chief economist, said housing market activity is now grinding to a halt as a result of the measures implemented to control the spread of the virus, and where the government has recommended not entering into housing transactions during this period.
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