London house prices stay flat amid coronavirus uncertainty

London house prices stayed flat in the second quarter of 2020 as coronavirus took an uneven toll on the UK’s property market. The Halifax house price index on Tuesday showed that UK house prices fell for the fourth month in a row in June, dropping by 0.9% in the second quarter of the year. However, the average fall masked sharp differences across the country, according to IHS Markit’s new breakdown of Halifax’s figures. It found that in London, house prices stayed the same in the second quarter, with the average home costing £500,632. Yet in Scotland, prices plunged by 4.2% quarter on quarter. Wales saw the biggest rise in house prices, which were up 1.8%. In the south-east, prices dropped by 0.8% quarter on quarter to an average of £331,547.

City AM

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