The UK Halifax House Price Index increased 0.3% MoM in April, a bounce from the -0.5% MoM decline in March and above expectations of a -0.1% MoM decline.

• Over the last quarter, house prices fell -0.1%, and the annual rate accelerated from 2.9% YoY to 3.2% YoY.
• House prices remarkably stable over last six months, down by just £48.
• Halifax: “We know the stamp duty changes prompted a surge in transactions in the early part of this year, as buyers rushed to beat the tax-rise deadline. However, this didn't lead to a significant increase in property prices…”