House prices slip in May in subdued market

House prices in May fell 0.2% from April, according to Nationwide Building Society. Compared with a year earlier, house prices rose 0.6% - slower than the 0.9% rise the previous month. The average price for a house bought over the period was £214,946, up from £214,920 the previous month. Meanwhile the number of first time buyers has continued to recover, with 359,000 first-time buyers in the 12 months to March, just 10% below the 2006 peak, according to the Nationwide data. "New buyer inquiries and consumer confidence have remained subdued in recent months," said Nationwide chief economist Robert Gardner. "Nevertheless, indicators of housing market activity have remained broadly stable”.

BBC News (31/05/2019)   City AM (31/05/2019)

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