The price of a typical UK home increased by 0.4% in May and was 1.1% higher than May 2012, according to the latest data from Nationwide.
The typical UK home is now worth £167,912.
Robert Gardner, Nationwide's Chief Economist, said: "House prices edged up by 0.4% in May, providing further support for the view that the housing market is gradually gaining momentum. The three month on three month measure of house prices, which is a smoother measure of the underlying trend, has been in positive territory since October last year. The annual rate of house price growth also ticked up to 1.1% in May - the fastest pace since November 2011.

As a growing, dynamic and forward thinking company who employ the best in the business we are always looking for good quality people wishing to pursue a career in property.
If you think you stand out from the crowd and are interested in a career with scottfraser please complete our recruitment enquiry form attaching your CV.
We regularly advertise positions available for administrative support positions and viewings team members. If you would like us to consider you for upcoming roles please complete our recruitment enquiry form attaching your CV.
Senior Lettings Negotiator
We are searching for a Senior Lettings Negotiator to join our busy our Witney & West Oxfordshire team. The successful candidate will have at least two years’ experience in the Oxfordshire lettings industry working in direct contact with tenants, landlords and in generating new business. Working in this multi-disciplined office a knowledge of residential sales would be helpful, however full training will be provided. Applicants would ideally have their NFOPP technical award in Lettings & Property Management and must have their own transport and a full UK driving license. To apply, please email your CV and covering letter to David Blythman at david@scottfraser.co.uk
Senior Sales Consultant
We are looking for a Senior Sales Consultant to join our flagship Oxford Sales Team. The ideal candidate would have a comprehensive knowledge of the residential sales market, over three years’ experience within the industry, a full UK driving license and own transport. Full scottfraser training will be given. To apply, please email your CV and covering letter to Adrian Wraight at adrian@scottfraser.co.uk
Property Manager
We are searching for a Property Manager to join our busy property management centre in Headington. The successful candidate will be required to manage a portfolio of properties and be able to generate income from refurbishment & other opportunities to help grow the business. The position requires a professional approach and the ability to handle/resolve issues or disputes as required. ARLA or NFOPP qualifications and previous residential property management experience would be helpful, however full training will be given. Applicants must have their own transport and a full UK driving license. To apply, please email your CV and covering letter to Victoria Mellor at victoria@scottfraser.co.uk
Saturday Viewings Staff - Headington & East Oxford
scottfraser Estate Agents are looking for Saturday Staff to join their busy Headington office and their East Oxford office to assist with viewings on Saturdays and in the week by appointment. The ideal candidate would have a knowledge of the property market and Oxford. A full UK driving license and own transport is essential. Full training will be given.
For Headington: Please send your CV and covering letter to Adrian Wraight by email at adrian@scottfraser.co.uk
For East Oxford: Please send your CV and covering letter to Laura Stafford by email at LauraS@scottfraser.co.uk
"I have been very pleased with the service and support from Scott Fraser and look forward to working together. The level of communication is excellent and I hope that their high standards of service will continue."