The company claimed that because recent reductions in mortgage rates have paused, affordability continues to be a barrier for prospective buyers.
It happens at a time when financial markets are growing less confident about when and how much the Bank of England will lower interest rates this year, according to analysts, with core inflation remaining “sticky.”.
This week, news is the second big lender to report a monthly decline in house prices.
The largest building society in the UK, Nationwide, released separate data showing that they increased 1.6% annually but decreased 0.2% in March.
A typical house, according to news, cost £288,430 in March, which is about £2,900 less than the previous month.
Nonetheless, it reported that yearly growth in housing prices was up 0.3% and up 2% over the previous quarter.
