Asking prices for homes in most of Britain fell in June, but the annual rate of decline moderated to an eight-month low, according to property website Rightmove.

Average asking prices of properties new to the market fell -0.4% this month, after rising +2.4% in May, Rightmove said. The annual rate of decline eased to -5.5%, its lowest since last October, from -6.2% in May.

A lack of new sellers has boosted property asking prices this year, although there is still a big gap between sellers’ aspirations and actual selling prices.

Property transactions have already picked up from last year’s record lows and forward-looking indicators, such as mortgage approvals and buyer enquiries, suggest prices may also be stabilising.

Rightmove believes that the recovery will be patchy. It said homes appealing to the equity-rich, such as detached family homes, were faring far better than flats in large blocks for example.

Rightmove also said there was growing evidence of a north-south divide. Property asking prices in the North of England fell an annual -10.5% in June while those in Greater London fell just -0.5%.