“It’s encouraging to see these signs of optimism back in the market”

Emma Cox, MD of real estate at Shawbrook:

“Rising interest rates and economic pressures have not stood in the way of many buyers or sellers’ ambitions, as the housing market shows strong resilience and house prices rise in March.

“Reports that the economic outlook isn’t as bleak as previously forecast has prompted a return in confidence and demand.

“And while buyers are likely to remain relatively cautious moving forwards, as mortgage rates remain high in line with rising interest rates, it’s encouraging to see these signs of optimism back in the market.

“The well-documented lack of supply within the rental market, could prompt professional landlords to snap up properties and expand their rental portfolios before any further price rises.

“This should help to provide an injection of quality stock, with demand currently being starved of good, available properties for renters.”