Mortgage provider: house prices rise 1.2% in May

By Joel Stanier – Financial specialist

The average house price has risen by 1.2% since April this year, according to Nationwide, making May the second month in three months in which it has risen.

However, no-one can predict what may lie ahead.

"At £154,016, the average house price is still 11.3% lower than a year ago," said Martin Gahbauer, Nationwide`s Chief Economist, "although this marks a significant improvement from the annual decline of 15.0% recorded in April."

A mortgage expert for Think Money warned that "It`s not wise to draw any firm conclusions based on a few months` figures - and if you are looking to buy or sell a property, watching house prices is just part of deciding when to act. Anyone looking for a mortgage should speak to an expert mortgage adviser before committing to anything."

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Think Money work with a panel of lenders to offer a range of mortgages. If you are considering taking out a mortgage, contact one of our expert mortgage advisers today.

Tags: mortgage, mortgages, house, prices, house prices, house prices rise, Nationwide, Nationwide mortgages

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