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Tuesday, 7 April 2020

UK housing market on pause

Halifax expects resilience

Halifax reported that UK house prices held at record highs in March, noting:

'On a practical level market activity has been paused'.

A big drop in the number of transactions is now inevitable.

The average house price was +3 per cent from a year earlier at £240,384.

So few transactions are expected to take place in April and May that average prices may not be available for calculation, noted the Halifax release, while Halifax also reported confidence in the fundamental strength of the market (no surprises there).