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UK house prices returned to growth in May amid signs of “resilience” in the market after two months of decline, according to a building society.
The average UK house price rose 0.4% month-on-month to £264,249, following a similar fall of 0.4% in April, In the whole country said.
The annual growth rate doubled to 1.3% in May from 0.6% in April.
Robert Gardner, chief economist at Nationwide, said: “The market appears to be showing signs of resilience in the face of continued affordability pressures following the rise in long-term interest rates in recent months.
“Consumer confidence has improved markedly over the past few months, supported by solid wage gains and lower inflation.”
More details coming soon…
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