Economics
U.K. House Prices Were Soaring Before Coronavirus Hit
- Prices rise most in two years in March ahead of virus lockdown
- Outlook for next few months uncertain, Nationwide says
A pedestrian wearing a protective face mask walks past a shuttered estate agents' branch in London, on March 27.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
U.K. house prices were climbing at the fastest pace in more than two years before the coronavirus pandemic almost brought the market to a standstill, according to Nationwide Building Society.
Values rose 3% from a year earlier in March, and gained 0.8% from February alone, the mortgage lender said Thursday. The sample period excludes the recent disruption caused by the U.K.’s restrictions to contain the virus, it said.