Biggest house price fall for 11 years as coronavirus 'car crash' slams into market
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mirror.co.ukHouse prices in the UK plummeted by the biggest amount for 11 years in May as the coronavirus crisis hammered the market. Mortgage lender Nationwide reports house prices fell by £4,013 between April and May, the largest month-on-month drop since 2009.
Overall, the average price of a home fell 1.7% in a month to stand at £218,902. Nationwide's chief economist Robert Gardner said: "This is the largest monthly fall since February 2009.
He added: " Housing market activity has slowed sharply as a result of the measures implemented to control the spread of the virus. "Indeed, data from HMRC showed that residential property transactions were down 53% in April compared with the same month in 2019." Jeremy Leaf, estate agent and a former RICS
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