31 May 2001, 12:47 UK May house prices up adj 0.8 pct from April; up 7.7 yr-on-yr - Nationwide
LONDON (AFX) - UK May house prices rose a seasonally adjusted 0.8
pct from April, leaving them 7.7 pct higher on the same month a year
earlier, according to the latest monthly survey from the Nationwide
building society.
Nationwide group economist Alex Bannister said that although the
economy is set to slow, the recent pace of annual price growth is
likely to be maintained.
"With incomes rising and interest rates falling we remain confident
in our forecast of a 7 pct rise in prices this year," he said.
The building society reported the average UK house price rose to
87,244 stg in May from 86,267 stg the previous month.
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