House prices are predicted to drop for the first time since September as a consequence of COVID-19, according to Nationwide. The lender is expected to say this week that house prices fell by 1% this month, compared to a 0.7% increase in April. Economists add that annual house price growth for April, as measured by the Nationwide House Price Index, is likely to come in at 2.8%. House prices had been surging before the coronavirus lockdown, which effectively shut down the market by stopping people going to viewings.
Sunday Express (24/05/2020)