House prices jump by 1.5% in July | Article by Pymm & Co Estate Agents & Lettings

House prices jump 1.5% in July

Written by Pymm & Co

Lender Housing Market Data: House prices jump 1.5% in July: Nationwide – 31st July 2020 9:56 am

House prices in the UK rose 1.5 per cent on an annual basis in July, reports Nationwide in its latest index.

On a monthly basis, prices rose by 1.7 per cent when seasonally adjusted.

This is a marked difference to the annual fall of 0.1 per cent and monthly fall of 1.6 per cent seen in June and leaves the average house price at £220,936.

Nationwide chief economic Robert Gardner points to the obvious factors for this, such as the demand that was forced into the background during the lockdown and the less “chilling effect” of social distancing that was previously assumed, while adding that further Nationwide research shows that 15 per cent of people are considering moving as a consequence of lockdown.