March has seen property prices remain flat in most areas although there has been a spark of revival in 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 £185,258 in mid-March compared with £184,620 in February, a rise of just 0.3%, recovering the same percentage fall last month. On average, properties are now only 3.7% more expensive than 12 months ago, although there are significant regional variations.

The survey is based on data supplied by 558 offices of TEAM members in 16 regions across England and Wales. The number of homes listed as 'under offer' in mid-March was 4,471 – the highest total since last August and twice the number listed in January.

Monthly increases above 2% in Kent, North London, Surrey and Thames Valley might be a one-off, but may also indicate a reversal of the downward pressure on prices in the South East of England. Elsewhere, prices have shown little movement. On an annual basis, South Wales remains the only region with an increase above 10%.

Neil Parsons, newly appointed expansion director of TEAM Association Ltd, and chairman of Anglia TEAM, commented: "These figures confirm that stability has returned, with a modest 0.3% increase in prices achieved overall."

"The lifting of the stamp duty threshold to £120,000 will help some first time buyers in areas away from London. Easter is traditionally the starting gate for the house-hunting season and prospects are looking much better than just a few short weeks ago. Team Agents are confident that this is the start of a good time for the housing market."

John Dennis, chairman of East Yorkshire TEAM, said: "Despite a slow start to 2005, the market has picked up considerably with plenty of new listings and sales in both February and March. In this area the raising of the Stamp Duty threshold will definitely help our first time buyers, who are a bit quiet and have been sitting on the fence for a few months. Most first timers enter the market at less than £100k so there is a direct saving available to them to the tune of around £1,000 right away."