Aug 7, 2020
Mini house-buying boom leads to highest ever monthly price
House prices hit a new all time high in July as the property market gradually reopened, after being put on pause during the coronavirus lockdown. According to the latest Halifax House price index the average price of a home was £241,604 last month, up from £237,834 in June. Halifax managing director Russell Galley said pent-up demand and a lack of available houses had combined to push up prices. "The latest data adds to the emerging view that the market is experiencing a surprising spike post lockdown," said Mr Galley. "As government support measures come to an end, the resulting impact on the macroeconomic environment, and in turn the housing market, will start to become more apparent," he added.
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