UK House Prices Rebound in May with 0.4% Increase

Nationwide attributes growth to higher wages and lower inflation, despite ongoing affordability challenges.

Average house price rose to £264,249 in May, reversing April's decline.
Annual house price growth increased to 1.3%, up from 0.6% in April.
Consumer confidence has strengthened due to solid wage gains over the past 10 months.
High mortgage rates and affordability pressures continue to impact the market.
Upcoming general election expected to have minimal effect on housing trends.