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Covid couldn’t cool house prices, but the economic chill might

Data due this week will be closely scrutinised to discern whether the market’s remarkable resilience is faltering Every economic indicator in Britain has started flashing red, but the housing market has marched relentlessly on. Nationwide building society will release its latest house price index for June this week, along with regional data for the second quarter, while the Bank of England’s latest mortgage lending figures should also shed more light on the state of the UK property market. Prices are up 5% this year, although uncertainty about the wider economy has meant Nationwide has not issued an annual house price forecast. Continue reading...

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