House price fall at lowest rate for a year

House prices fell at the lowest monthly rate for a year in April, according to latest figures from Hometrack. They fell by 0.3 per cent for the month, taking prices down by 10.1 per cent during the past 12 months. The average time taken to sell has fallen for the third consecutive month to an average of 10.4 weeks, compared with its high in January this year when they were taking 12.3 weeks. The proportion of the asking price received has also increased to 89.6 per cent.