Sellers up asking prices

The figures from FindaProperty.com said asking prices rose in eight of the 11 UK regions during Q1 with London increasing the most by 5.4%.

Larger properties have recorded the greatest price increases since the year began with the average 5+ bedroom property recording 2.2% growth and the prices of 3+ bedroom flats increasing 3.0%.

Samantha Baden, property analyst at FindaProperty.com, said: “We always expect prices to tail off at the end of the year as the market quietens down, but a healthy recovery during Q1 of the following year shouldn’t be taken for granted.

“Given the current economic climate, asking price rises could be interpreted as part of a gradual return of confidence to our fragile property market.

“However, for many first-time buyers and would-be home movers it’s the affordability issue which remains key as they decide their next property move.”

The property portal said across all UK properties rental asking prices fell by a pound in March to an average of £868.

Rental prices for houses fell 0.1% to an average of £885, rental prices for flats increased slightly and are 0.2% higher at £835, while the greatest price increases for rental properties were in the West Midlands, where they increased 1.1%, or an additional £7 per month.

In the North East rental asking prices dropped 1.4% to an average of £574, eight pounds per month less than February.