The Department of Communities and Local Government house price data reaches us last, because it's based on completions, but it's accurate, because - er - it's based on completions. April's figures, which arrived in early June, stood out from the crowd by showing a slight rise. May's figures, out now, don't. It seems the DCLG index has finally "caught up with the slowdown". May's index falls 0.3%, leaving the annual inflation figure still in black, but only at 3.7%. Remember, too, that these completion figures reflect exchanges made weeks, sometimes months, before. More here.

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