UK house prices drop by highest since 2009, due to COVID
LONDON (UK) – House prices in the UK dropped by the most in over 11 years in May.
The coronavirus crisis has hammered the UK house market, according to mortgage lender Nationwide.
Nationwide’s measure of house prices in the UK dropped by 1.7% last month from April, marking the biggest decline since February 2009.
Prices rose by 1.8%, slowing from 3.7% in April in annual terms.
Economists polled an estimated monthly fall of 1.0% and an annual rise of 2.8%.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.