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Wary would-be buyers keep lid on property prices

Property prices rose by less than 1% for the fifth consecutive month last month as political uncertainty continued to dampen demand.

House prices rose by 0.9% in the year to April, according to Nationwide. The average cost of a home in the UK is £214,920, up from £213,102 in March.

“Surveyors report that new buyer inquiries have remained subdued,” Robert Gardner, chief economist at Nationwide, said.

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