Overview

• UK house values climbed 0.5% in May to an average of £273,427, reversing a 0.6% drop in April and delivering a 3.5% annual gain, according to Nationwide Building Society.
• Australian home prices increased by 0.5% in May to a median $831,288, marking the fourth consecutive monthly rise as buyers respond to recent and anticipated rate cuts, Cotality data show.
• HMRC figures reveal UK property sales fell 64% to 64,680 in April after stamp duty thresholds reverted, while Bank of England data show net mortgage borrowing plunged by £13.7 billion during the same period.
• Savills warns that planned adjustments to mortgage stress tests could cut first-time buyer deposits by about £13,000 but may push average UK house prices up by as much as £19,000 over the next five years.
• Low unemployment, rising wages and expectations of further rate cuts have bolstered buyer confidence and market resilience, although affordability remains stretched in high-cost areas such as London.