Figures from Nationwide show that house prices have hit an all-time high, with the average home now worth £224,123. Prices rose by an average of 2% in August, the biggest month-on-month increase since February 2004 as values saw a post-lockdown surge. Year-on-year, prices have risen 3.7% compared to August 2019. The analysis also reveals that demand is 34% up on August last year. With property prices reversing losses recorded in May and June, Nationwide chief economist Robert Gardner said: “The bounce-back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions.” Separate data from Zoopla show that housing market activity is running at its strongest pace in over half a decade, with agreed sales in August up 76% against the five -year average.
Daily Mail (02/09/2020) BBC News (02/09/2020) City AM (02/09/2020) Financial Times (02/09/2020)