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According to data released by the Investment Property Databank (IPD), the rate of decline in capital values continued to decelerate following a fall over nine consecutive months.
Since last summer's bull market peak, the market has slid 17 per cent, reports Reuters.
Malcolm Frodsham, IPD's research director, commented: "For those investors who thought we had reached the bottom in the first quarter of 2008, these numbers will be unsettling at best."
Recent reports from the Chartered Institute of Building and Royal Institute of Building recently said that the credit crunch had impacted hard on the housing market and the construction industry.
Those who are looking for a quick turnaround in their investments can learn more by attending a free stock market course hosted by experts such as Greg Secker.
