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July 2020 House Price Update

UK Housing Price and Market Update for July 2020


Monthly Change

+ 1.7%


Quarterly Change

- 1.3%


Annual Change

+ 1.5%


Average Price Paid

£220,936


  • The housing market bounce-back was evident in June with market activity on the increase and prices following with a 1.7% increase on the month.

  • Pent-up demand can be attributed to much of this bounce back in activity due to the restrictions placed on the market over the previous few months.

  • The recently announced Stamp Duty Land Tax holiday is expected to support further activity and growth in the market over the coming months.

  • In many cases, the savings made thanks to reduced Stamp Duty are expected to be passed on with increasing house prices.

  • There remains uncertainty over the coming quarters however, due to the predicted labour market slow-down attributed to the post-lockdown economic conditions.

Source of UK Property Price Data ‘Annual Change’, ‘Quarterly Change’, ‘Monthly Change’, ‘Average Price’ and ‘Average Mortgage Rates’ - Nationwide House Price Index.

Please note that the use of the above information and commentary is subject to both the Nationwide Legal Terms (https://www.nationwide.co.uk/about/house-price-index/headlines) and also where applicable, the Terms and Conditions found on our website www.resonateproperty.co.uk.

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