UK housing ‘stable’ in May as prices dip 0.1%

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Stability has returned to the UK housing market, the latest data from lender Halifax shows, with prices dipping slightly last month.

This has been reflected in a broadly stable picture in terms of property price movements, with the average cost of a property little changed over the last three months.

While homebuyers and those remortgaging will continue to respond to changes in borrowing costs, set against a backdrop of a limited supply of available properties, the market is unlikely to see huge fluctuations in the near term.