UK house prices fell by more than expected in May, figures from the mortgage lender Halifax show.
Halifax said house prices fell by 0.4% in May, more than reversing a 0.3% increase in April. Economists had only expected a fall of 0.1%.
According to Halifax, the average property price was £296,648 last month, down from £297,798 in April.
On an annual basis, house prices were 2.5% higher on the year – again less than expected.
Halifax’s report also shows that house prices are rising faster in Northern Ireland, Wales and Scotland than in England.
Investors will have one eye on the US jobs market today and the other on the spectacular blowup between Donald Trump and Elon Musk overnight.
The latest US employment report is expected to show a slowdown in hiring across the US in May.
Economists forecast that the US non-farm payroll will have risen by about 130,000 in May, down from the 177,000 increase recorded in April, with the unemployment rate sticking at 4.2%.
A weak payrolls report could fuel fears that the US economy is slowing, as Trump’s trade wars hit activity. But it could also intensify the pressure on the US Federal Reserve to lower interest rates, something the US president has been demanding for months.
The London stock market has opened higher, heading back towards its recent record high.
The FTSE 100 index of blue-chip shares has gained 19 points, or 0.2%, in early trading to 8,830 points.
Trade war anxiety has eased slightly, after Trump and Xi Jinping held a call yesterday.
The Footsie is now less than 100 points away from its all-time high, 8,908 points, reached in March.
The agenda
• 8.30am BST: UN FAO food price index • 10am BST: eurozone GDP report for Q1 2025 (third estimate) • 11.30am BST: Bank of Russia interest rate decision • 1.30pm BST: US non-farm payroll report
Wise goes to the US. Will its founder’s supercharged voting rights follow? 
