Industry predictions for house prices in 2021

The Halifax and Nationwide Banks both form part of ‘The Big Six’ mortgage lenders, who are said to account for most of the UK’s mortgage lending (source). They report that whilst house prices increased by around 6 or 7% last year, taking into account the slow start followed by the boom in the second half of the year, the trend isn’t expected to continue throughout 2021. Russell Galley, managing director at the Halifax believes the latest lockdown and job losses are likely to impact house prices in a downward direction throughout 2021. See the article here.