Economics
U.K. House Prices Drop Most Since Financial Crisis in Lockdown
- Second-quarter decline was biggest since 2009, Halifax Says
- Mortgage lender sees further declines in second half of year
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Residential property prices in the U.K. fell by the most since the global financial crisis from April through June, according to mortgage provider Halifax.
Values declined 0.9% compared with the first three months of the year as the country locked down due to the coronavirus pandemic. However, on a yearly basis, prices rose across Wales and all regions of England. Scotland bucked this trend with a 0.8% slide, its first decline in seven years.