Halifax released its house prices data for the U.K. on Tuesday. House prices in the U.K. were up 0.6% in May, exceeding expectations for a 0.3% rise, after a 0.8% decrease in April.
On a yearly basis, house prices jumped 9.2% in the three months to May, beating forecasts of a 8.9% gain, after a 9.2% increase in the three months to April.
“Low interest rates, increasing employment and rising real earnings, continue to support housing demand. The strength of demand, combined with very low supply, is causing house prices to rise at a brisk pace in quarterly and annual terms,” Halifax’s housing economist Martin Ellis said.
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