- UK house prices increased by 0.5% in May, reversing the 0.6% decline in April, according to Nationwide Building Society.
- The average UK house price reached £273,427 in May, with an annual increase of 3.5%, slightly higher than April's 3.4%.
- Nationwide's chief economist, Robert Gardner, cited "supportive" underlying conditions for buyers, including low unemployment and rising earnings.
- A stamp duty holiday ended in March, leading to a rush of sales before the deadline and a subsequent 64% drop in house sales in April, according to HMRC figures.
- Experts suggest that despite the stamp duty changes, the market remains active, with lenders trimming mortgage rates and an increase in property listings providing opportunities for buyers.
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