The housing market continued to show signs that the worst of the economic crisis may be over. The RICS said that enquiries from new buyers rose in April, the sixth consecutive month of growth. It also reported that sales were up for the month, albeit from exceptionally low levels, with estate agents selling an average of 10.6 properties over the past three months, up from 9.7.

The governor of the Bank of England, Mervyn King, put the dampner on recovery hopes. 'There are signals the pace of decline is moderating and some indicators are picking up,' said King in the Bank’s quarterly inflation report.

Sunday Times