House prices in the U.K. rose by 0.5 percent in May, rebounding from a 2.3 percent decline in April, according to recent figures released by mortgage lender Halifax showed on Thursday.
U.K. house prices were 0.1 percent down in the three months to May compared with a year ago, the report showed.
The figures were on par with analysts' forecasts and took the average price of a home to 160,941 pounds.
"Whilst there has been a modest improvement in the trend for house prices recently, the current average UK price is very similar to the levels both a year ago and at the beginning of this year. We expect this situation to continue with prices likely to still be around today's levels at the end of 2012 as the ongoing tough economic environment constrains housing demand," said Halifax economist Martin Ellis.
"Recent monthly house sales figures have clearly been affected by the ending of the stamp duty holiday for first-time buyers in late March. Overall, the trend for sales - like that for prices - appears to be one of broad stability," he added.
