House prices rose by 0.1% in March when compared with the previous month, but are still 2.9% lower than a year ago, according to the Halifax.
Its monthly survey found that the average price of a property was £162,912 – up £215 on February. But over the first three months of 2011, prices actually fell 0.6% compared to the previous quarter.
It was the fourth consecutive quarterly fall, and "the best measure of underlying trend," said the lender. "The overall decrease in prices in the first quarter of 2011 compared with the previous quarter was a little lower than the quarterly falls recorded in the third and fourth quarters of 2010," said Martin Ellis, Halifax's housing economist.
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