House prices fell at the lowest monthly rate for a year in April, fuelling hopes among housing experts that a bottom is being reached in the market.

Prices fell by 0.3% in the month, according to the national housing market survey from Hometrack, taking prices down by 10.1% over the last 12 months.

Hometrack said this would add to optimism among estate agents on the back of increased levels of market activity and sales during the first three months of 2009.

April experienced continued growth in the number of buyers registering with agents, with applicant numbers up by 6% throughout the month and by almost 32% in the past three months.

Financial Times