Brexit uncertainty "delays usual spring bounce": Rightmove

Rightmove says Brexit uncertainty has "delayed the usual spring bounce" with March seeing considerably lower price rises than the 0.9% average recorded over the last seven years.

The index shows that London is the main drag, with prices down by 1.1% on the previous month.

The only other region to record a monthly fall was the North East, with prices down by 1.3%.

Rightmove says search activity on the site remains steady, with the number of visits to the website staying level in the year-to-date, indicating an "eventual bounce if and when the uncertainty abates".

Miles Shipside, Rightmove director, commented: "While March marks the start of spring, temperatures have yet to rise in the housing market. Buying activity remains cooler than usual, with hesitation as some buyers await a more settled political climate.

"There’s greater resilience the further away you get from the London market, and there’s a sound bedrock of demand for the right property at the right price, reinforced by ongoing housing needs combined with cheap mortgage borrowing.”