A leap in house prices has prompted hopes that the market is past the worst. Figures from Nationwide show that the average home rose 0.9%, or £2,250, to £156,128 last month. But the annual rate of house price inflation fell from 7.9 to7.0%. Its weakest since April 2001. Economists expect house price inflation to continue to drop but argue that there is mounting evidence to suggest the market may be stabilising. Fionnuala Earley, Nationwide’s economist, said: “The figures seem to confirm our view that housing market activity, which slowed through the second half of last year, has bottomed out. Confidence will be a big factor in how the market moves forward from here. This is driven predominantly by the macroeconomic background and, in particular, news about interest rates and employment.” (Independent, Times, Guardian)