Halifax warns of coronavirus impact on house prices

House prices continued to show signs of improvement in February, according to Halifax, but the bank issued a warning about the potential impact of the coronavirus outbreak on the property market later in the year. Prices rose 2.8% in the year to February, and 0.3% in the month, with the average property gaining £6,443 annually to reach a new record high of £240,677, according to the mortgage lender. The quarterly rate of house price inflation also rose to 2.9%. But Halifax managing director, Russell Galley, said: “Looking ahead, there are a number of risks, including the potential impact of coronavirus, which continue to exert pressure on the economy and we wait to see how these will affect housing market sentiment later in the year.”

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