Date Published 04 June 2012

House prices rose in May by just 0.3% to stand at an average of £166,022, up from April's figure of £164,134.

Nationwide, whose house price index shares an anniversary with the Queen as it marks its 60th year, says that house prices are now 0.7% lower than a year ago.

However, they are quite a lot higher than when Nationwide first reported in 1952, when they stood at £1,891.