House price watch

Your home may well be one of your major assets. Even if you are not planning on moving in the near future, it is always a good idea to keep abreast of the latest changes in the housing market.

You can see below that some of the house price data is still erratic There is still a sense that the housing market is nowhere near 'normal' and that any increase in figures now might be due to the pent-up demand crated by three months of lockdown and the recently announced SDLT holiday. Commentators are suggesting that the real test will come later in the year when the furlough scheme ends - this may have a significant impact on unemployment and market confidence.

Below is the latest comparison of three major national house price indexes to keep you in touch with where the market is heading.

Please note that there will also be regional variations.

Source Period covered Average house price Monthly change (%) Change past year (%)
Rightmove house price index July 2020 £320,265 n/a 3.7% up
Halifax house price index July 2020 £241,604 1.6% up 3.8% up
Nationwide house price index July 2020 £220,936 1.7% up 1.5% up