UK house prices in longest decline since 2010

UK house prices have fallen for the fourth month in a row for the first time since 2010, according to the Halifax. Average prices fell 0.1% in June, the first full month that England’s estate agents were open for business again after the housing market reopened on May 13^th. Overall, the average British home has lost £2,222 in value since the coronavirus pandemic began, bringing the average price down to £237,616, Halifax found. However, house prices in June were still 2.5% higher than in the same month last year, due to a rally in the aftermath of the Conservative election victory at the end of 2019. Looking forward, Halifax expects prices to fall further, though not drastically. “The near-term outlook points to a continuation of the recent modest downward trend in prices through the third quarter of the year,” Halifax managing director Russell Galley said.

The Daily Telegraph (07/07/2020)   The Guardian (07/07/2020)   Daily Mail (07/07/2020)