Nationwide reports that UK annual house price growth fell to -3.4% in May, from -2.7% in April, but hopes for a ‘soft landing’
There are signs that activity in the housing market picked up last month.
Matt Thompson, head of sales at London-based estate agent Chestertons, reports:
“We registered more sellers listing their home for sale in May, which provided buyers with a more varied selection of properties.”
‘Continuing worries about the cost of living highlighted in the recent core inflation numbers are compromising confidence and having a knock-on effect on mortgage cost and availability, inevitably leading to a softening of property prices.’
