However, as a result of the equity-rich calling the bottom of the market and staking a claim to the restricted supply of saleable properties, prices are still up six per cent since January.
Although the shortage of new sellers is ongoing, a modest increase of around ten per cent was recorded compared to the previous three month period.
Despite an upturn in enquiries and sales, Miles Shipside, commercial director of Rightmove, warned it would be a mistake to confuse this with a return to a more normal market.
"While conditions are much improved on the darkest days of last year, we are now starting to see some big distortions and wild swings due to the combined effects of recession and restricted mortgage availability," he said
"As the best deals on property and mortgages are only open to the equity-rich, the new stock that agents are looking to attract has to match what these purchasers want to buy and can afford."
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