House prices rise again in May

Suzie Neuwirth

UK HOUSE prices increased by 0.4 per cent in May, the fourth month-on-month rise, according to data from mortgage lender Halifax.

Prices in the three months to May 2013 were 1.5 per cent higher than the preceding three months.

“Market activity has improved slightly in recent months although home sales remain low by historical standards,” said Halifax housing economist Martin Ellis.

“Despite these recent signs of improvement in the housing market, the subdued economic background and the accompanying weak income growth continue to be a significant constraint on housing demand and activity.”