Less than half of areas saw house prices rise in May, as further signs emerged that tougher new mortgage rules are putting the squeeze on borrowers and cooling the housing market.

House prices continued to rise across the UK in May but there has been a slight slowdown in the rate of inflation compared to April, according to a survey by property analysts Hometrack.

It found that house prices increased 0.5 per cent on the month in May, inching down from 0.6 per cent in April. But in a further indication that the property revival might be moderating, the proportion of areas that saw price increases over the month slipped from 50 per cent in March and April to 42 per cent in May.

Full story via Hometrack: House price rises calm down as tighter mortgage rules kick in | This is Money.