June 7, 2019 / 7:46 AM / 3 months ago

UK house prices show biggest annual rise since Jan 2017 - Halifax

LONDON, June 7 (Reuters) - British house prices rose at the fastest annual rate since the start of 2017 during the three months to the end of May, mortgage lender Halifax said on Friday, though it added the figure was flattered by weak growth a year ago.

Halifax said house prices in the three months to May were 5.2% higher than in 2018, up from 5.0% growth in the three months to April, their highest since January 2017 and beating a forecast in a Reuters poll of economists.

Prices rose 0.5% on the month in May, in contrast to predictions of a fall, and April’s monthly house price growth was revised up to 1.2% from 1.1%.

“The overall message is one of stability,” Halifax managing director Russell Galley said.

“Despite the ongoing political and economic uncertainty, underlying conditions in the broader economy continue to underpin the housing market, particularly the twin factors of high employment and low interest rates,” he added. (Reporting by David Milliken; Editing by Alistair Smout)

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