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.