Pandemic hits UK house prices after rise last month

The latest Halifax research has revealed that UK house prices were up 3% year on year in March, but remained flat on a monthly basis. However lockdown measures introduced in response to coronavirus at the end of the month have seen buyers and sellers put house moves on hold, with a negative trend predicted for house prices as a result. Across the UK, the average property price in March was £240,384, compared with £240,461 in February, Halifax Managing Director Russell Galley remarked: “The UK housing market began March with similar trends to previous months,” continuing: “However, it’s clear we ended the month in very different territory”.

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