Up 1.5% yr/yr (Il Sole 24 Ore Radiocor) - London, 07 Jun - UK house prices fell 0.1% month on month in May, according to the bank Halifax.

Year on year, property prices grew 1.5% annually against a 1.1% rise the previous month.

A typical UK home now costs 288,688 pounds, compared with 288,862 pounds in April, it added.

'Market activity remained resilient throughout the spring months, supported by strong nominal wage growth and some evidence of an improvement in confidence about the economic outlook. This has been reflected in a broadly stable picture in terms of property price movements, with the average cost of a property little changed over the last three months," said Amanda Bryden, head of mortgages.

'A period of relative stability in both house prices and interest rates should give a degree of confidence to both buyers and sellers. While homebuyers and those remortgaging will continue to respond to changes in borrowing costs, set against a backdrop of a limited supply of available properties, the market is unlikely to see huge fluctuations in the near term.'.

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(RADIOCOR) 07-06-24 08:16:55 (0145) 5 NNNN