House prices fall in April due to lockdown restrictions

Figures show that house prices in the UK were down 0.6% last month to an average price of £238,511 as a result of coronavirus lockdown restrictions, with buyers and sellers expected to return to the market as soon as safety measures are loosened. Russell Galley, managing director at Halifax, remarked: “The impact of measures taken to curtail the spread of coronavirus started to filter through to the housing market in April, with average prices falling by 0.6% compared to March, and the annual growth rate easing to 2.7%.” He went on: “The future remains uncertain and based on our current forecasting we expect short-term headwinds to house prices, although we maintain our underlying confidence in the health of the housing market in the longer term.”

City AM (08/05/2020)   The Times (08/05/2020)   Daily Mirror (08/05/2020)   Yorkshire Post (08/05/2020)