The latest house prices news, headlines and analysis from The NE Times.
Halifax says the typical home now costs just under £299,000 with annual growth of 0.5%, but the headline masks a stark split between a buoyant north and a weakening south.
Property values edged lower last month as Middle East uncertainty sapped momentum, even as a string of major lenders cut selected fixed deals in a battle for borrowers.
A surprise monthly drop reported by Nationwide has confirmed a cooling property market, with prices sliding in the south while northern regions and the devolved nations continue to climb.
The average home cost just under £299,000 in May, with Halifax reporting a slight monthly dip while annual growth ticked up to 0.5 per cent.