Signs of strength in housing market

It added that while house prices had continued to fall, the rate of decline was at its slowest in 15 months.

A spokesman said it remained a buyers' market but the balance was shifting.

Overall, only 9% more surveyors in England, Wales and Scotland reported seeing price falls than those who reported rises, - well down on a figure of 21% more during September.

Falling prices

Sales rose slightly during the month and levels are now nearly 8% higher than the low they reached in February, although they are still 5% below the level seen in October last year.

In London, prices increased during October for the first time in 18 months, while across the rest of southern England they either stabilised or showed marginal declines.

The cost of property continued to fall in northern England and the Midlands, although prices rose in the North West and Scotland.

The group said surveyors were positive about the outlook for the market, expecting modest price increases in most regions of the country over the coming three months.