UK house prices stabilise as rising wages and consumer confidence steady market

Average price of a home dipped by 0.1%, says Halifax, bringing cost of typical property down to £288,688

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UK house prices held steady in May underpinned by rising wages and an increase in economic confidence during the important spring selling season, according to the latest data from mortgage lender Halifax.

Average house prices were stable in May, dipping 0.1% on a monthly basis. The typical UK home now costs £288,688 – reduced slightly from £288,862 in April, according to Halifax’s index . On an annual basis, prices were up by 1.5% in May and up from 1.1% in April.

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