UK house prices could fall by as much as 10 per cent this year due to the impact of coronavirus, experts predict.
UK house prices had started to recover from uncertainty caused by Brexit at the end of 2019.
And the so-called Boris bounce from the Tories’ election victory in December set the market up for a strong start to 2020.
Read more: It’s official: Coronavirus killed UK house prices’ Brexit recovery
But then coronavirus came along, sending the UK into lockdown – meaning buyers couldn’t visit houses, a fairly crucial step when moving house.
The dramatic economic hit has also made people more wary of making big purchases right now.
While the impact of the coronavirus outbreak on UK house prices is not yet fully understood, analysts believe they will dip in the second and third quarters of 2020.
Read more: UK house prices dip as coronavirus lockdown makes sales ‘almost impossible’
The latest data from Nationwide confirmed that UK house prices were hit hard by the coronavirus lockdown.