Shifting expectations for UK interest rate cuts have contributed to a dip in house price growth, according to a closely watched measure.

Nationwide reported a 0.4% fall in average property costs last month compared with March, taking the annual rate of growth to 0.6% from 1.6%.

Economists polled by the Reuters news agency had expected month-on-month growth of 0.2%.

The lender’s report said the easing reflected “ongoing affordability pressures, with longer term interest rates rising in recent months, reversing the steep fall seen around the turn of the year”.

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The cost of fixed rate mortgage deals has risen due to market expectations that a Bank of England interest rate cut is looking further away than had been anticipated at the start of the year.

According to the latest data from the financial information service Moneyfacts, the average two-year fixed residential mortgage rate is still creeping back up towards the 6% mark last seen since December.

It charted a figure of 5.9% on Monday – up from 5.87% seen last Friday.

The average five-year rate is nearing 5.5%.

The increases reflect rising borrowing costs for lenders themselves.

It is all based on market expectations that a UK interest rate cut will now not take place until August.

Earlier bets had been on May but the Bank has recently signalled no let up in its concerns about the outlook for inflation, with those including the pace of wage growth remaining too high.

Nationwide said wider cost of living pressures continued to weigh on buyers during April, despite the pace of wage growth standing at almost double that for price growth.

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Robert Gardner, Nationwide’s chief economist, said: “Recent research carried out by Censuswide on behalf of Nationwide found that nearly half (49%) of prospective first-time buyers (those looking to buy in the next five years) have delayed their plans over the past year.

“Among this group, the most commonly cited reason for delaying their purchase is that house prices are too high (53%), but it is also notable that 41% said that higher mortgage costs were preventing them from buying.

“Coupled with this, 84% of prospective first-time buyers said that the cost of living has affected their plans to buy, for example through having less money each month to save for a deposit.”

Untreated sewage was released into designated shellfish waters for 192,000 hours last year, new research has found.

The dirty water pouring into English seas was a 20% jump from 159,000 hours in 2022, according to the analysis of Environment Agency data by the Liberal Democrats, shared with Sky News.

The hours of sewage dumping were spread across 23,000 separate incidents – a slight fall from the previous year, but still an average of 64 times a day.

Some fishing waters in Cornwall were forced to close last year after high levels of e.coli were found in oysters and mussels, and norovirus can also be transported via human waste.

While the fishing industry can usually clean its catch before it reaches the plate, it has branded the situation a “stitch-up” because it foots the bill for the process.

Liberal Democrat environment spokesperson Tim Farron MP said: “This environmental scandal is putting wildlife at risk of unimaginable levels of pollution.

“The food we eat, and the British fisheries industry, must be protected from raw sewage.”

The Lib Dems are calling for an investigation into shellfish water quality – which should be protected from deterioration under the Water Framework Directive – and a government clampdown on polluting companies.

“It is getting worse on their watch and there will be real concerns for the fishing industry if this trend continues,” added Mr Farron, whose party is targeting many rural seats in the upcoming general election.

The worst offender was South West Water, responsible for 13,000 sewage discharges, totalling 98,000 hours, followed by Southern Water, which released sewage 7,000 times for 73,000 hours.

Southern Water pointed to the fact 2023 fell in the wettest 18-month period on record, while South West Water said it has a high proportion of shellfish waters across its vast West Country coastline.

Just 9% of shellfish waters in England reach the top “class A” status – clean enough that shellfish harvested from them can be sold without being purified first.

Anything caught from lower quality waters must be cleaned first in depuration tanks, where the molluscs purge themselves with sterile water, or cannot be sold at all.

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Fishing industry on a ‘knife edge’

Martin Laity, of Sailors Creek Shellfish, has been catching native oysters from the waters of Cornwall for 34 years.

He tracks alerts on the latest sewage discharges, so he can avoid fishing in those waters, and sometimes soaks the oysters in purification tanks for days longer than mandated just to be safe.

He calls the situation a “stitch-up” because it pushes up producers’ electricity and labour costs, and reduces the value of their catch, for which they receive no compensation.

Joe Redfern from the Shellfish Association Of Great Britain said producers “live on a knife edge”.

“Just one bad result can shut down their business overnight, leading to huge impacts to their business. It is a desperate situation and one that seems to be getting worse, with some businesses shutting for good,” he said.

It wants compensation for producers from the fines the government imposed on water companies for excessive sewage releases.

A spokesperson for industry body Water UK said: “Water companies understand and sympathise with the issues these businesses and coastal communities are facing, which is why we are proposing to spend £11bn to reduce spills as quickly as possible, halving spills into shellfish water by 2030.”

An environment department (Defra) spokesperson said: “We’re already taking action to clean up shellfish sites by driving the water industry to deliver the largest infrastructure programme in history – £60bn over 25 years – to cut spills by hundreds of thousands each year.

“Shellfish sites will be prioritised alongside bathing waters and sites of ecological importance.”

Defra is also increasing inspections and regulator funding, and considering banning some water company bonuses, they added.

South West Water said its plans will ensure all shellfish sites in its area meet the government’s target of less than 10 spills per year by 2030, and Southern Water said shellfish can also be infected by farming, run off from roads, boats, marine life and pesticides.

Police in riot gear have raided Columbia University and arrested pro-Palestinian protesters occupying one of its buildings.

Around 30 to 40 people have been removed from the Manhattan university’s Hamilton Hall, according to police.

The raid came hours after New York City Mayor Eric Adams said the demonstration at the Ivy League school “must end now”.

He also claimed the demonstration had been infiltrated by “professional outside agitators”.

University bosses said they called in the New York Police Department (NYPD) after protesters “chose to escalate the situation through their actions”.

“After the university learned overnight that Hamilton Hall had been occupied, vandalised, and blockaded, we were left with no choice,” a university spokesman said in a statement.

“The decision to reach out to the NYPD was in response to the actions of the protesters, not the cause they are championing.

“We have made it clear that the life of campus cannot be endlessly interrupted by protesters who violate the rules and the law.”

The protest began when students barricaded the entrance of Hamilton Hall at Columbia’s campus on Tuesday and unfurled a Palestinian flag out of a window.

Video footage showed protesters locking arms in front of the hall and carrying furniture and metal barricades to the building.

Those behind the protest said they had renamed the building “Hind’s Hall” in honour of Hind Rajab, a six-year-old girl killed in a strike on Gaza in February.

Demonstrators said they had planned to remain at the hall until the university conceded to the Columbia University Apartheid Divest’s (CUAD) three demands: divestment, financial transparency and amnesty.

“Columbia will be proud of these students in five years,” said Sweda Polat, one of the student negotiators for CUAD.

She said students did not pose a danger and called on police to back down.

Officers raided the campus on Tuesday night after university bosses wrote to New York City officials and the NYPD formally asking for assistance.

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A large group of officers dressed in riot gear entered the campus late on Tuesday evening. Officers were also seen entering the window of a university building via a police-branded ladder vehicle, nicknamed “the bear”.

Earlier, Mayor Adams urged demonstrators to leave the site. “Walk away from this situation now and continue your advocacy through other means,” he said.

Columbia University also threatened academic expulsions for students involved in the demonstration.

Protests at Columbia earlier this month kicked off demonstrations which have spread to university campuses from California to Massachusetts.

Dozens of people were arrested on Monday during protests at universities in Texas, Utah, Virginia, and New Jersey.

Police moved to clear an encampment at Yale University in Connecticut on Tuesday morning, but there were no immediate reports of arrests.

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Meanwhile, the president of the University of South California issued a statement on Tuesday after a swastika was drawn on the campus.

“I condemn any antisemitic symbols or any form of hate speech against anyone,” Carol Folt said.

“Clearly it was drawn there just to incite even more anger at a time that is so painful for our community. We’re going to work to get to the bottom of this immediately, and it has just been removed.”

Earlier, National Security Council spokesperson John Kirby said President Joe Biden believed students occupying buildings was “absolutely the wrong approach” and “not an example of peaceful protest”.