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House prices fell again in April according to the latest analysis by the Nationwide.  But once again, there are signs that the pace of the decline is slowing. 

Britain's biggest building society calculates that prices fell by 0.4 per cent in April.  This partly reverses a surprising rise of 0.9 per cent in March, but is nevertheless a much smaller fall than the -1.8 per cent and -1.3 per cent falls recorded for February and January respectively.

Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said:  "The price of a typical house fell by 0.4 per cent in April. The 3-month on 3-month rate of change, generally a smoother indicator of the short-term trend in prices, improved to -3.1 per cent in April from -4.1 per cent in March".  This is the first time that the 3-month on 3-month trend has been above -4.0 per cent since May 2008.