By the end of the year house prices could start to rise again, according to data complied by Lombard Street Research (LSR).

The LSR housing affordability index, which compares house prices to other financial indicators such as average earnings and mortgage rates implies that those now buying a house are doing so at a reasonable price.

"There are actual signs from the market that things are actually improving. There's no reason why you couldn't have a month by the end of the year where prices go up by 0.1%," said Jamie Dannhauser from the LSR.

An improvement in the property market would be welcome news for many small business owners that are reliant on the value of their property as a major financial asset for their business.