UK house prices rose 13.4% in the year to June, the fastest pace since November 2004, the Nationwide has said.
The building society said the average house price increased to £245,432 from £216,403 in June 2020.
According to Robert Gardner, Chief Economist at Nationwide the
pandemic had stimulated the housing market.
Mr Garner added that lots of people had reassessed what they want
from home in terms of space and where they live as a result of the
Corona Virus lockdowns.
Who would have thought, that a world wide pandemic which brought the world to its knees would be the cause of a dramatic increase in house values.
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