(Nationwide) The UK house prices taking into account the seasonal effects, increased by 0.9% in May from April, its tenth straight month of gains.
Following the May gains, the house prices hit 269,914 pounds, compared to 267,620 pounds the previous month.
The gain in house prices comes when high inflation has hit household budgets amid rising costs of borrowing. Nationwide’s Chief Economist Robert Gardner says the housing market could slow as the year progresses amid further squeezes on household finances.
On an annual basis, the house price growth slowed to a gain of 11.2% in May, from 12.1% in April.
FTSE 100 is down -0.14%, GBPUSD is down -0.09%.
