Largest House Price Falls in 11 Years
Published / Last Updated on 02/06/2020
UK house prices are down 1.7% month-on-month for May 2020. According to the latest Nationwide property prices index.
The average house price for May was £218,902 down from April’s figure of £222,915.
The annual rate of house price growth in April was 3.7% and May saw it fall to 1.8%
Before the Pandemic the housing market in the UK looked promising but since the coronavirus lockdown and the measures put in place have had an impact on whole housing market.
Comment
Not a surprise to any of us during coronavirus lockdown. Expect a bounce back up and then a gradual stagnation or decline again during any coming recession.