House prices rallied to the highest levels on record in July as months of pent-up buyer demand was released. Prices saw an uptick for the first time since the lockdown began, according to the latest Halifaxhouse price index, growing on average 1.6% after months of downturn. This brings the price of the average UK home to £241,604 - up 3.8% on last year despite the decline in the first half of 2020. But experts warn the recovery may be short-lived as the furlough scheme nears its end and fears of the health of the economy loom. Some 63,250 homes were bought and sold in June, a rise of 31.7% from May following the Government's lifting of lockdown measures and the introduction of the stamp duty cut.
Daily Mail (07/08/2020) The Guardian (07/08/2020) The Independent (07/08/2020) The Daily Telegraph (07/08/2020)