'Pick up' in house prices recorded

House prices have recorded their strongest year-on-year growth in 18 months, in further signs that the market is gathering momentum, Nationwide has reported.

Prices edged up by 0.4% month-on-month in May to reach £167,912 on average, the building society said. House prices are now 1.1% higher than they were a year ago - marking the fastest annual increase seen since November 2011.
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