"Policy Cliff" Effect Leads to Sharp Decline in UK Property Market, April House Prices See Largest Decline since 2021

According to the ZhuTong Finance and Economics app, the latest data from the UK National Statistics Office shows that due to adjustments in stamp duty policies, the national house prices in the UK experienced the largest single-month decline since 2021 in April, with the average house price falling to 265,000 (approximately $356,000), a decrease of 2.8% from March. This is the first time a decline in house prices has occurred since December 2023, and the decline sets a new record high since the outbreak of the COVID-19 pandemic. It is worth noting that although the year-on-year growth rate is still maintained at 3.5%, the growth rate has significantly slowed down compared to previous periods, reflecting a significant weakening of market momentum.