According to the mortgage lender Halifax, the UK house prices had dropped consecutively for January 2021 and February 2021 during the national lockdown. The house prices fell by around 0.1% during February 2021 after witnessing a drop of 0.4% in January 2021. The house prices in annual terms surged by 5.2% during February 2021, following a growth of 5.4% in January 2021.
Moreover, Homebuyers had boosted the housing price during the second half of 2020, driven by the UK government announcement of a stamp duty holiday. Many industry experts believed that the pandemic is driven sales would slow down after the scheduled expiry of the stamp duty holiday, which was 31 March 2021.