Analysts warn against latest ‘green shoots’

Economists have been quick to dampen speculation that the housing market has hit the bottom after yesterday’s figures from Halifax showing house prices had increased 2.6 per cent in May. The jump in house price inflation was the third in the past 21 months, but even Halifax cautioned reading too much into the figure. Other experts called the increase a ‘pause for breath’ before further price falls, as rising unemployment and low wages stymie recovery.