House prices show sluggish gains in May

House prices prices crept up slightly in May, Nationwide reported yesterday.

The 0.3 per cent rise cancelled out a fall the previous month. Overall, prices are still 1.2 per cent below where they were a year ago.

The less volatile three-month on three-month measure showed prices barely moving. Nationwide said the property market mirrored "the lacklustre trends in the wider economy".