House prices rose by 1.2% in May, according to Nationwide, the second increase in three months and the strongest increase for 19 months - another sign that we may be making tentative steps towards recovery.
The increase, which follows a 1% rise in March and a 0.3% dip in April, leaves the average UK house price 11.3% lower than this time last year.

As ever, the news is tempered with caution as Nationwide said it was too early to say that the market is turning definitively. "Nonetheless," it said, "the improvement in house price trends is consistent with signs of stabilisation in several other economic indicators and suggests that any further price declines may occur at a less rapid pace than in 2008."