–UK May House Prices Down 0.2% m/m: Up 8.2% y/y Land Reg
LONDON (MNI) – UK house prices fell modestly on the month in
May, according to the Land Registry data series, after private sector
surveys recorded a mix of falls and rises on the month.
The Land Registry survey, based on official records of property
transactions, showed house prices down 0.2% on the month and up 8.2% on
the year. The Halifax survey showed house prices down 0.4% on the month
in May while Nationwide had them up 0.5%.
Land Registry said house prices were up 8.2% on the year, the
seventh consecutive rise on the year. The May year-on-year increase,
however, failed to surpass April’s rise – the first time since March
2009 that the annual price rise has not exceed the prior month.
The Land Registry data add to the impression that the housing
market recovery is stalling – with no clear upward momentum now in
prices.
–London newsroom: 4420 7862 7491; email: drobinson@marketnews.com
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