House prices crept up 0.4% last month to stand at an average of £166,898, the Halifax has reported.
The lender says it was the fourth consecutive monthly rise, while May’s transactions were up by 2% on the preceding three months.
Halifax economist Martin Ellis said: “House prices continue to pick up gradually.
“Market activity has also improved slightly in recent months although home sales remain low by historical standards.”
However, he cautioned: “The subdued economic background and the accompanying weak income growth continue to be a significant constraint on housing demand and activity.”
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We also reported this month in the Property Activity Index that national figures have risen in property sales for the fourth consecutive month. Confidence growing in the property market, the nations ‘Sold’ board’ figures have increased by 8% within the last 5 month over figures recorded for the same period in 2012.
You can see our full report here: http://www.agencyexpress.co.uk/property-activity-index/May-2013-Sales/