UK house prices rise faster than expected in May


British house prices rose faster than forecast last month, rebounding from a dip in April caused by a new tax on rental property.

Halifax said house prices rose by 0.6 percent in May, twice the rate forecast in a poll of economists and largely reversing April’s 0.8 percent dip.

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.