Rise in house prices calms down in May, says Hometrack survey

The Hometrack housing survey found that house prices increased 0.5% on the month in May, down from 0.6% in April, the Daily Mail reports. In a further sign that the property revival might be moderating, the proportion of areas that saw price increases over the month slipped from 50% in March and April to 42% in May. Richard Donnell director of research at Hometrack said: ‘House price inflation is starting to moderate both in London and nationally. ‘The proportion of postcode districts with price increases slipped from 50% to 42% of market in May.' ‘This led to a slowdown in over...