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- UK house prices grew by 1.5% on a monthly basis, in contrast to a decline seen in April
UK house prices grew by 1.5% on a monthly basis, in contrast to a decline seen in April
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House prices in the three months to May were 1.9% higher than the same period a year earlier; experiencing slower growth than the 2.2% annual growth in April and 0.2% higher than in the preceding three months (December-February 2018)
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On a monthly basis, prices rose by 1.5% in May, partially reversing the 3.1% monthly decline in April.
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The average house price is now £224,439
Russell Galley, Managing Director, Halifax, said: "House prices grew by 1.5% on a monthly basis, in contrast to a decline seen in April. The month on month figures are more volatile than the quarterly or annual measures. In the three months to May house prices were 0.2% higher than the previous quarter and on an annual basis they are 1.9% higher. Both of these measures have fallen since reaching a recent peak, in the final months of last year."
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