UK house prices recorded their biggest monthly fall for more than two years in June, according to mortgage lender Nationwide. Is now a good time to buy?<br /><br />Prices fell by 0.8% last month, the sharpest decline since February 2023, which the building society said may reflect weaker demand following the changes to stamp duty in April.<br /><br />Over the year, prices were up 2.1%, although that was the slowest annual growth rate for nearly a year.<br /><br />However, Nationwide said it expected activity in the housing market to pick up in the months ahead.<br /><br />He noted that the unemployment rate remains low, earnings are still outpacing inflation and borrowing costs could become cheaper if the Bank of England makes further cuts to interest rates.<br /><br />Changes to stamp duty that came into effect in April mean that housebuyers in England and Northern Ireland now pay the tax on properties over £125,000, instead of over £250,000, as was the case previously.<br /><br />First-time buyers also have to pay stamp duty on homes costing more than £300,000, whereas before the April change, there was no charge unless the property was above £425,000.<br /><br />#property #movinghome #buyingahome #sellingahome #house #flat #home #propertyownership homeownership #firstimebuyer #personalfinance #moneytips #stampdutytax
