July 7, 2020 / 7:49 AM / a month ago

UK house prices fall for longest period since 2010 - Halifax

LONDON, July 7 (Reuters) - British house prices fell for a fourth month in a row in June as COVID-19 continued to depress the market, the longest run of monthly declines since 2010, mortgage lender Halifax said on Tuesday.

Halifax said average house prices dropped by 0.1% in June after a 0.2% fall in May, and were 0.9% lower than in the first quarter of 2020.

Compared with a year earlier, prices were up by 2.5%, though this was the slowest rate of growth since November 2019.

“The near-term outlook points to a continuation of the recent modest downward trend in prices through the third quarter of the year,” Halifax managing director Russell Galley said. (Reporting by David Milliken Editing by William Schomberg)

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