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UK house prices fall for longest period since 2010

07 July 2020 12:12 (UTC +04:00)

British house prices fell for a fourth month in a row in June as COVID-19 continued to depress the market, the longest run of monthly declines since 2010, mortgage lender Halifax said on Tuesday, APA reports citing Reuters.

Halifax said average house prices dropped by 0.1% in June after a 0.2% fall in May, and were 0.9% lower than in the first quarter of 2020.

Compared with a year earlier, prices were up by 2.5%, though this was the slowest rate of growth since November 2019.

“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.