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Average UK property prices edged up slightly by 0.
3% during the month of March, according to property website Hometrack.
It calculates that the annual average growth figure now stands at 1.
3%, and believes that the market is finally returning to normal.
Richard Donnell, Hometrack’s director of research said:
“The recovery in market conditions over the last 12 months has been built on a scarcity of housing for sale.
“During the whole of 2009 the stock of housing for sale increased by just 7% - this in contrast to the first 2 months of 2010 when the supply of homes for sale increased by 10.
2%.
“Indeed over March the growth in the number of homes coming to the market exceeded new buyers registering with agents.
”
Hometrack recons that fewer buyers registered with estate agents in March than in February, and yet there were more sales agreed this month - up 13% on February.