House prices spike to 11-year high - but there are fears it is 'a false dawn'

Economists caution over reading too much into the upturn as the fallout of the devastating pandemic continues to make itself felt.

UK house prices saw their biggest rise in 11 years this month as the property market bounced back quicker than expected with the easing of lockdown restrictions.

However, economists have cautioned reading too much into the increase in terms of the economic recovery, warning it may prove "a false dawn" as the fallout of the coronavirus pandemic makes itself felt on jobs and temporary support measures end.

Prices were up by 1.7% in July, according to a closely watched survey - the largest monthly hike since August 2009, when the market was recovering from the financial crisis.

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