Asking prices for homes from sellers across the UK have reached their highest ever for the month of March according to Rightmove.

The average price of a property coming to market is at a new March high of £239,710. The previous peak achieved at this time of year was set in 2008.

Miles Shipside, Rightmove director and housing market analyst, said: “In today’s turbulent world where economic crises seem more likely to re-appear than disappear, any market upturn will take longer to build home-mover confidence to the point that it starts to feed through to actual transactions. Even those who truly believe that the market has turned a corner may be unable to do anything about it due to lenders’ cautious risk profiling, a significant factor limiting the speed and strength of the recovery.”

This new March record could be an indication that the housing market is gathering momentum as 23% of Rightmove respondents to its latest Consumer Confidence Survey believe prices will be higher in a year’s time.

Shipside said: “Positive sentiment on the future direction of property prices is a vital element in motivating more people to buy including those looking to trade-up. If they feel confident that prices aren’t going to drop, some will take the plunge, while those who are predicting price rises often judge it wise to act sooner rather than later if they perceive delaying will mean they pay more. Whilst outlooks on property prices differ and remain patchy according to location and property type, overall there appears to be an upturn in confidence”.

Rightmove research also shows that rents are delivering average gross yields of 5.9%. With some remortgage finance now available at lowest ever levels, from as little as 2% for a two year fixed rate and 2.7% for a five year fixed rate.

Shipside comments: “There are blindingly good returns on the right buy-to-let investment, with the Funding for Lending Scheme giving the possibility of an immediate and enticing profit gap between borrowing costs and available rental returns. With the prospect of capital growth in future years if you buy the right property, you can see why investors are piling in to the rental market – why wouldn’t they when it can offer a much better return than money in the bank?”