Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
UK house prices were higher on-month May, according to figures from Nationwide on Friday.
The Nationwide house price index showed a 0.4% increase in seasonally adjusted UK house prices in May, following a 0.4% fall a month earlier.
According to FXStreet, market consensus expected the house price index to rise by just 0.1%.
In May, the average UK house price stood at £264,249, up from £261,962 in April.
Annually, the house price index rose by 1.3%, picking up speed from a 0.6% increase in April.
‘The market appears to be showing signs of resilience in the face of ongoing affordability pressures following the rise in longer term interest rates in recent months. Consumer confidence has improved noticeably over the last few months, supported by solid wage gains and lower inflation,’ said Robert Gardner, Nationwide’s chief economist.
Copyright 2024 Alliance News Ltd. All Rights Reserved.