The South East and East Anglia saw a 0.1% growth, whilst all other regions either remained static or saw a drop on April.
May also saw a continued slowing of new buyers registering with agents – up 0.4% in May compared to 2.1% in April and 4.4% in March. The volume of new listings also slowed, up 2.2% in comparison to a 4.8% increase in April 2012.
9.3 weeks is the average time taken to sell a property and sellers achieved an average of 93.2% of their proportion of asking price as a sale.
Richard Donnell, director of Research at Hometrack, said:
“Increased mortgage rates and mounting concerns over the impact of the Eurozone on the UK’s economic growth and employment are likely to keep demand and prices in check as we move into summer."
