UK house prices rise 3.9% in year to May, ONS says

LONDON (Reuters) -Average house prices in the United Kingdom in May were 3.9% higher than a year earlier, after a 3.6% rise in the year to April, the Office for National Statistics said on Wednesday.

House price growth has slowed sharply after hitting a two-year high of 7.0% in March when buyers rushed to complete property sales before the end of a tax break on many house purchases.

Annual growth in private-sector rents slowed to 6.7% in the 12 months to June from 7.0% in May, the ONS added.

(Reporting by David Milliken; editing by Sarah Young)