June 2020 House Price Update
UK Housing Price and Market Update for June 2020
Average Price Paid
Seasonally adjusted, house prices in June were 3.2% below those in April.
June 2020 was the first month since December 2012 that house price growth was negative.
Activity slowed sharply as a result of the lockdown measures with economic output falling 25% during March and April.
Whilst the easing of lockdown measures over the coming weeks may support an increase in housing market activity in the short term, high uncertainty remains surrounding the medium term outlook for the housing market.
There were 9,300 mortgage purchase approvals in May down from over 73,000 in February.
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.