British home prices pop by 10.9pc in May

British house prices increased by 10.9 percent in May compared with the same month last year, the biggest annual increase in nearly seven years, mortgage lender Nationwide showed on Tuesday.

House prices were 1.8 percent higher than in April, Nationwide said. Economists polled by Reuters had expected prices to rise by 9.2 percent in annual terms and by 0.8 percent from April.