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UK home prices show first annual decline in 8 years


UK housing prices fell for the first time in eight months last month, the real estate construction market achieved uncertain business returns after closing, according to a major building society survey.

The National Home Price Index showed that June’s price increased 1.8% MoM and then fell 0.1% YoY as the first decline since December 2012.

UK housing prices fell 1.7% MoM and fell 1.4% MoM to account for seasonal changes. House prices in June were 3.2% lower than in April.

The building community’s chief economist said the epidemic impacted the economy and that the rise in housing prices was “not surprising.”

“HMRC’s latest data showed a slight uptrend in home equity trading at the April lows, but in May it was still 50% lower than the same month in 2019,” said Robert Gardner on Wednesday.

Owners and buyers are paying attention to uncertain prospects over the coming months.

Nationwide’s figures showed that mortgage lending activity slowed further with 9,300 approvals in May, when approval for home purchases fell 86% from the same month last year. In February, there were 73,700 mortgage approvals.

“The housing market activity will rise sharply in the short term, as the lockdown is expected to ease in the coming weeks,” Gardner said. “It will depend largely on the performance of the economy, and it will depend on how the restrictions on pandemics and activities develop.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

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