House prices increased 0.9% in April and reversed the fall in prices in March, the latest Nationwide house price index has revealed.
The building society says prices recovered from the fall of 0.6% in March but the overall trend remains fairly flat.
Nationwide says the trend reaffirms its view suggesting the decline in housing market activity - which has been slowing since the middle of last year - has bottomed out.
The average property price is now £156,128, according to the research, but giving a nod to the upcoming general election Nationwide has also looked into which constituencies have the highest house prices.
House prices are highest in Conservative-held constituencies, while in Liberal Democrat-held constituencies house prices have recorded the greatest gains in cash terms as the average house price in a Conservative constituency was more than £208,000 in the first quarter of 2005.
Among the three main parties, house prices are lowest in Labour-held constitutencies as prices average £179,000. House prices in Liberal Democrat-held constituencies average around £205,000.
Nationwide says volatility in monthly house price changes is not unusual in spring and given the early Easter it believes the traditional house hunting season may have moved forward slightly.
The lender continues to argue the figures point to a gentle slowdown in the housing market.
Fionnuala Earley, group economist at Nationwide, says:
“Confidence will be a big factor in how the market moves forward from here and this is driven predominantly by the general macroeconomic background and in particular news about interest rates and employment.
"Economic growth and continued strength in the labour market support continuing modest confidence in the market but the outlook for interest rates is still uncertain,” she adds.
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