Property prices stall as stamp duty rises

HOUSE prices stagnated in March and the market is likely to be "a little soft" now that the stamp duty discounts are less generous, analysts warn.

- By Vicky Shaw

"Nil rate" bands have shrunk from yesterday, meaning higher costs for some buyers where the duty applies in England and Northern Ireland.

Nationwide Building Society recorded a 0% month-on-month average in March after a 0.4% rise February.

It said the annual rate of price growth was stable in March at 3.9%, which was unchanged from February. The average UK house price in March was £271,316.