British house prices rose faster than forecast last month, rebounding from a dip in April caused by a new tax on rental property, figures from mortgage lender Halifax showed on Tuesday.
Halifax said house prices rose by 0.6 percent in May, twice the rate forecast in a Reuters poll of economists and largely reversing April’s 0.8 percent dip.
“The strength of demand, combined with very low supply, is causing house prices to rise at a brisk pace,” Halifax housing economist Martin Ellis said.
Prices in the three months to May were 9.2 percent higher than a year earlier, the same rate of increase as in April, which was the slowest since November.
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