Nationwide warns of ‘false dawn’ after UK house prices leap 1.7%


Pent-up demand from buyers powers rebound but redundancies may cause slowdown

The UK’s biggest building society has warned of a “false dawn” in the housing market after reporting a 1.7% leap in prices in July.

Nationwide said the rebound had been powered by pent-up demand from those who wanted to move before lockdown. There was further demand from people deciding they wanted to move after being confined in their homes for several months.

Related: Help-to-buy scheme may be extended beyond 2020 deadline

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Author: Hilary Osborne

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