British house prices rise in May: survey

27th May 2011, Comments 0 comments

British house prices gained 0.3 percent in May from April, when they had fallen by 0.2 percent, a key survey by home-loans provider Nationwide showed on Friday.

"Overall, the modest pace of house price growth in May suggests that the property market is continuing to mirror the lacklustre trends evident in the wider economy," said Nationwide chief economist Robert Gardner in a statement.

The average value of a home in Britain stood at £167,208 ($274,979, 192,921 euros) in May, according to Nationwide. That was 1.2 percent less than the same month last year.

© 2011 AFP

0 Comments To This Article