UK May Halifax house prices 0.0% vs 0.0% m/m expected

• Prior -0.3%
• House prices -1.0% vs -0.9% y/y expected
• Prior +0.1%

The monthly reading may show no change in UK house prices but the annual reading has fallen into negative territory for the first time since December 2012. That highlights the underlying trend in the UK housing market, as higher rates and tighter financial conditions are weighing on sentiment.