Asking prices for houses in England and Wales were -9% lower than a year ago this month, slightly less than February’s record -9.1% annual drop, according to Rightmove.

Average asking prices rose by +0.9% in March, less than the usual increase for the time of year, and new listings were -57% lower than last year at 79,000, Rightmove said.

Rightmove said there seemed to be buyer interest in properties priced at around -25% below peak levels, and that sellers who initially overpriced their homes risked heavier losses later.

The average property asking price in March was £218,081 pounds, compared with £216,163 in February. February data from mortgage lenders Halifax and Nationwide showed that house prices have around fallen -20% from their peak in late 2007.

Not surprisingly, asking prices for London property appears to be holding up better than elsewhere in England, with prices just -1.8% lower than a year ago and +2.9% from February’s level at £399,867. But according to other surveys, London selling prices have fallen in line with those in the rest of the country.