The latest figures from Nationwide Building Society reveals that UK house price growth slowed considerably in April, falling to a mere 0.1%, following-on from Marchs sharp 1.1% gain.

The annual inflation rate now stands at 4.8% in April, down from 5.3% in March, taking the average house price to £163,573.

Nationwide economist Fionnuala Earley said: "Looking forward, we continue to expect some month to month volatility in the house price numbers as the market settles down after the unseasonably strong winter months and adjusts to the economic conditions on the horizon."