With 500,000 sale completions expected in the first half of 2023, the UK is on track for one million sales or more in 2023, said Zoopla.

It added that market conditions at the end of March are better than many had expected.

But the property price portal admitted that house price growth has slowed to 4.1%, with prices now down 1% since October.

In fact, the quarterly growth rate has been negative for the last three months – the weakest level of quarterly house price growth since 2011.

Housing market latest

Sales activity is supported by a boost in supply, said Zoopla, with 65% more homes for sale compared to March last year and more sales in cheaper price bands.

It said that, despite weaker market conditions with house prices falling, buyers are still in the market and agreeing deals with sellers at an increasing rate.

Demand for homes is down on this time last year but at its highest since October as falling mortgage rates and a strong labour market support buyer interest.

Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “Zoopla has spotted green shoots in the property market, but at this stage we can’t rule out a lethal frost. There are no guarantees that the spring is set for the kind of flourishing market the estate agents are hoping for.

“There are some real positives, with more sellers coming to the market, which is enabling a reasonably steady stream of sales. Bank of England figures have also shown that mortgage approvals for the coming months have picked up very slightly, and, assuming the current bump in mortgage rates is a temporary blip, the market could benefit from further falls in rates. Meanwhile, the strength in the labour market and rapidly rising rents are keeping a floor under demand.

“However, these delicate green shoots face a tough climate. Demand is still down 43% in a year and sales have fallen 16%, so it’s still a buyer’s market.”