LONDON (Reuters) - British house prices rebounded more than expected in May, but the broader market picture remains subdued, mortgage lender Halifax said on Thursday.
House prices rose 1.5 percent in May after a 3.1 percent slump in April, Halifax said. A Reuters poll of economists had pointed to a smaller rise of 1.0 percent. Year on year, prices were 1.9 percent higher in the three months to May, as expected.
“These latest price changes reflect a relatively subdued UK housing market,” Halifax managing director Russell Galley said.
Reporting by Andy Bruce; editing by John Stonestreet