House prices in surprise rebound

House prices have recorded their biggest monthly rebound in more than two-and-a-half years, the Nationwide said.

Prices rose by a "surprising" 1.3% month-on-month in August to reach £164,729 on average, reversing declines recorded over the previous two months and marking the biggest monthly increase since January 2010, the building society said.%VIRTUAL-SkimlinksPromo%