The Halifax reports this morning that values dropped in May vs April BUT by only 0.2% in sharp contrast to the 1.7% monthly drop that the Nationwide published earlier this week.
What does this mean? The unprecedented landscape that we face right now in terms of reduced lockdown-led transactions, uncertainty and so on, combined with the different methodologies of each index mean – temporary instability in the indexes themselves and therefore CONFUSION. We should not ‘call’ the market based on just one index’s numbers, one snapshot nor one month’s representation of what’s seemingly going on.
But, sadly some naysayers will of course grab any fig-leaf of negativity that they can currently.
Keep calm and carry on.