UK house prices increased by 1.1% in March according to the latest figures published by the Halifax.

This was the eighth rise in the past nine months, taking the average price to 9.1% above the low point last April.

Martin Ellis, Housing Economist, said: "Prices in the first three months of 2010 were 0.6% higher than in the final quarter of 2009. This was smaller than the 3.6% rise between the third and fourth quarters of 2009, suggesting a slowdown in the trend rate of house price growth. The return of the lowest stamp duty threshold to £125,000 affected housing demand at the end of 2009 and in early 2010.

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"There are signs that an increase in the number of properties available for sale is beginning to reduce the imbalance between supply and demand. This should help to contain the upward pressure on house prices."

Prices are 9.1% above their trough in April 2009, an increase in the average price of £14,031 over this period. This follows a decline of 23% between August 2007 and April 2009. The average house price is now £168,521.

(CD/BMcC)