Tiny rise in UK house prices
According to Nationwide residential UK property prices nudged slightly higher during May by 0.3 per cent.
Last Friday saw the publication of the latest report studying the direction of UK property prices, a barely there increase of less than 0.5 per cent confirms the sluggishness of the wider general economy affecting the country as a whole.
In terms of quarterly results house prices have grown by 0.6 per cent showing a slight recovery from the drop during last month. Average house prices now stand at around £167,205 - slightly lower than the same time last year.
Economists predict more of the same in the coming months although the general economy is expected to improve mainly driven by business investment and improvements in the job markets providing growth in employment opportunities.