Hive Exclusives COVID | Real Estate | UK

# Monthly UK House Prices Fall, But Which Areas Benefited Most During the Pandemic?

(2 min read)

Hive Exclusives COVID | Real Estate | UK

(2 min read)

Nationwide announced today that average house prices in January fell 0.3% on the month. The news comes two weeks after Rightmove released its January figures showing a 0.9% MoM fall in asking prices (Charts 1 and 2). Nationwide is the timeliest source of actual house prices, with their data based on Nationwide mortgage applications. Halifax is due to release its data at the end of this week.

According to the latest data, average UK house prices now stand at £229,750, down 0.3% MoM but up 6.4% YoY. Nationwide’s house price estimates have historically followed the more accurate, but less timely, Land Registry data closely (Chart 3). Correlation between YoY changes in both series since 2010 is 0.87.

Nationwide announced today that average house prices in January fell 0.3% on the month. The news comes two weeks after Rightmove released its January figures showing a 0.9% MoM fall in asking prices (Charts 1 and 2). Nationwide is the timeliest source of actual house prices, with their data based on Nationwide mortgage applications. Halifax is due to release its data at the end of this week.

According to the latest data, average UK house prices now stand at £229,750, down 0.3% MoM but up 6.4% YoY. Nationwide’s house price estimates have historically followed the more accurate, but less timely, Land Registry data closely (Chart 3). Correlation between YoY changes in both series since 2010 is 0.87.

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