Founder and CEO of eMoov.co.uk, Russell Quirk, comments:
“Despite many predicting a second consecutive monthly drop in house price growth, the latest numbers by Halifax show that prices have, in fact, crept up ever so slightly during May, notwithstanding a marginal fall in the last quarter.
“The unpredictability of recent house price trends demonstrates the turbulent landscape that both the UK property market, along with the wider economy, have had to traverse over the last year or so.
“With the snap election looming imminently the recent cool in price growth seems to be thawing and it is no coincidence that one of the overarching factors in the recent price growth slowdown has been a shortage of stock, more so than usual.
“Tomorrow’s vote will be pivotal in shaping the future of the UK housing market, however, regardless of which way it goes it is likely that the sector will receive a boost from the many home sellers and buyers, who until now, will have been putting their decision on hold until the election dust has settled.”