The housing market has hit rock bottom and is on the rise for the second month in a row, according to one estate agent.

John Newhouse, managing director of estate agents Roseberry Newhouse, told The Journal that he had witnessed a rebound in sales at the lower end of the housing market.

He told the news provider: "Now is a good time to buy."

"In the New Year people might not get the bargains that are on offer now," he added.

Mr Newhouse claimed as interest rates dropped further mortgage rates were becoming more attractive.

He said that some areas of the market, such as high end properties, were experiencing a supply shortage as a result.

Earlier this month, the National Association of Estate Agents (NAEA) called on banks and other high street lenders to pass on the full base rate cut to their mortgage customers.

The NAEA said the move would help hard working families.

Carry out a property search.