Is the homeowners’ nightmare of tumbling house prices finally at an end, or is there even worse to come? This week has been a confusing one for anyone attempting to read the runes of the UK housing market.

Nationwide reported a surprise rise in house prices this week, prompting hopes that the bottom of the market may be in sight. But as fast as some analysts have boldly called an end to price falls, others have cautioned that the sunny upland of rising prices will not rapidly be regained.