House price growth in the UK slowed last month, falling from 5.2% in April to 4.6% in May, according to Nationwide’s house price index.
Prices spiked in April but May saw the return of the downward trend in growth that started last summer.
The average price paid for a home in May was £195,166 compared with £193,048 in April.
The share of homes purchased with cash rose to an all-time high of 38% in Q1 of 2015; however, overall transactions in the quarter dropped by 5% compared with Q1 2014.
