UK house prices fall for third month in a row

The average house price fell for the third month in a row in May. Across the UK, a 0.2% month-on-month decline in property values in May took the average house price to £237,808, Halifax said. It followed monthly falls of 0.6% in April and 0.3% in March. Russell Galley, managing director at Halifax, said: “It should still be noted that with a limited number of transactions available, calculating average house prices remains challenging and increased volatility is to be expected.” However, the lender said the relaxation of lockdown measures in England in mid-May had led to an uptick in interest from buyers. “Looking ahead, we expect market activity to increase progressively as restrictions are eased further across the whole of the UK and we continue to have confidence in the underlying health of the housing market over the long term”, Mr Galley added.

Financial Times (05/06/2020)   The Guardian (05/06/2020)   City AM (05/06/2020)    Evening Standard (05/06/2020)