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canada goose coats Robert Gardner, Nationwide chief economist, said: house prices fell by 1.7% over the month in May, after taking account of seasonal effects this is the largest monthly fall since February 2009.a result, the annual rate of house price growth slowed to 1.8%, from 3.7% in April.the opening months of 2020, before the pandemic struck the UK, the housing market had been steadily gathering momentum.levels and price growth were edging up thanks to continued robust labour market conditions, low borrowing costs and a more stable political backdrop following the general election.housing market activity has slowed sharply as a result of the measures implemented to control the spread of (coronavirus).data from HMRC showed that residential property transactions were down 53% in April compared with the same month in 2019. Gardner said the medium term outlook for the housing market remains highly uncertain and much will depend on the performance of the wider economy.He said: raft of policies adopted to support the economy, including to protect businesses and jobs, to support people incomes and keep borrowing costs down, should set the stage for a rebound once the shock passes, and help limit long term damage to the economy.same measures should also help ensure the impact on the housing market will ultimately be less than would normally be associated with an economic shock of this magnitude. EMBED START PA Quote >Jeremy Leaf, a north London estate agent and a former residential chairman of the Royal Institution of Chartered Surveyors, said: extent of the car crash that hit the property market in May is laid bare in Nationwide report of the largest monthly fall in house prices for over 11 years. canada goose coats

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