House prices increase 2.6%

04th June 2009

UK house prices increased by an average of 2.6% in May compared to April, according to the latest survey from the Halifax.

This rise follows three successive months of falling property prices and means that the annual rate of decline has now eased to 16.3% from 17.7% in April.

"There are some tentative indications of a possible stabilisation in activity, albeit at a low level," said Nitesh Patel, Halifax's housing economist.

Source: Newbusiness.co.uk