India, June 2 -- UK house prices rebounded unexpectedly in May, data from Nationwide Building Society showed Monday.
House prices grew 0.5 percent on a monthly basis, in contrast to the 0.6 percent fall in April. Prices were expected to remain flat.
Year-on-year, house price growth edged up to 3.5 percent from 3.4 percent in April.
Nationwide's Chief Economist Robert Gardner said there was a notable increase in housing property transactions in March as buyers brought forward their purchases to avoid stamp duty costs.
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Nonetheless, mortgage approvals data suggests that market activity appeared to be holding up well following the end of the stamp duty hol...