According to the report from Halifax Bank of Scotland, on a monthly basis, house prices rose by 0.5%, to £237,837

In the latest quarter (March to May) house prices were 2.5% higher than in the preceding three months (December to February).

House prices in the three months to May were 5.2% higher than in the same three months a year earlier.

May’s annual change figure of 5.2% comes against the backdrop of a particularly low growth rate in the corresponding period in 2018, which has had an impact on year-on-year comparisons.

Russell Galley, Managing Director, Halifax, said:

“We saw a slight increase in house prices between April and May, but the overall message is one of stability. 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".