Post lockdown miniboom

The latest ONS data shows that UK house prices have increased by 3.4% to £237,834 in the year to June 2020. The mini post lockdown boom pushes house price growth to the highest level since March 2018. House prices in East Midlands saw the largest annual increase, 4.5% followed by the North West, 4.4% and the South West 4.3%. The North East saw the smallest annual increase, 1.7%, followed by the South East, 2.1% and the East, 2.6%. The August sentiment survey by Royal Institution of Chartered Surveyors showed a net balance of +22% of agents expecting house prices to increase over the next 3 months and +27% over the next 12 months.