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UK annual house price growth eases to 1.9% in May

U.K. house prices in the three months to May rose 1.9% year over year, slower than the 2.2% annual growth seen in the three months to April, mortgage lender Halifax said.

On a monthly basis, prices were up 1.5% in May following a 3.1% decline in the prior month. The standardized average house price rose to £224,439 in May from £221,108 in April.

"These latest price changes reflect a relatively subdued U.K. housing market. After a sharp rise in January, mortgage approvals have softened in the past three months," said Russell Galley, managing director at Halifax.