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Halifax House Prices (Dec.)

2020 may well have been the strangest year for the housing market since the Halifax house price index began in 1983. Despite the biggest drop in GDP since 1709, house prices rose by 7% y/y in Q4, the largest rise since 2015. But we think that most of the increase in house prices in 2020 will be reversed in 2021 after policy support is withdrawn.

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