Property prices are rising again in most areas outside the South East, according to TEAM, the multi-listing network of independent estate agents.

Its latest national survey shows that nationwide the average price of homes 'under offer' was £184,620 in mid-February compared with £185,203 in January, a fall of just 0.3%. On average, properties are now 4.7% more expensive than 12 months ago.

The survey is based on data supplied by 558 offices of TEAM members in 16 regions across England and Wales. It reflects a daily average of 4,325 homes listed as under offer by estate agents in the four-week period to mid-February.

Monthly price movements in the regions range from a rise of 2.1% in Cornwall to a fall of 3.1% in South Hants. On an annual basis, the biggest increase remains in South Wales (13.8%), although the differences are narrowing. The figures clearly indicate a downward pressure on prices in the South East of England.

Neil Parsons, newly appointed director of TEAM Association Ltd, and chairman of Anglia TEAM, commented: "The figures show that Team got it right last year when we predicted that the market was in for a soft landing. The market has come back down to earth in a gentle glide."

"The lower priced areas have continued to see slight but stable growth. The more expensive areas, in the South-East particularly, are showing greater signs that the market has cooled more rapidly. The number of properties under offer has doubled in the past month, demonstrating that the market is showing a recovery and that vendors who listen to what their local Team agent recommends will reap the benefit with an early sale."

John Dennis, chairman of East Yorkshire TEAM, said: "Following a stuttering start to the New Year, the past three weeks or so have seen quite a marked upsurge in activity, with many more properties becoming available at more sensible prices, and also no shortage of would-be buyers. However, the noticeable shortage of first timers is causing frustration in some chain situations. A slight nudge downwards of the interest rates could make a considerable difference. At present, the first time buyer is sitting on the fence."