It is the second time in three months that house prices have increased, with the cost of property also going up by 1% in March, while a fall of just 0.3% was recorded in April.

The annual rate of house price falls eased from 15% in April to 11.3%, with the price of a typical home now standing at £154,016.

However the Nationwide said it was too early to report a turn in the market.