The latest Nationwide Building Society figures suggest that house prices rose 0.9 per cent in June.

David Smith, Senior Partner at Carter Jonas, commented: "It's still very early to talk about the beginning of a trend, but you could say we're seeing the beginning of the beginning of a trend. 

"Slowly, people are moving back to property, sensing excellent value, while prices are stabilising, propped up by short supply. At the same time, while the economy and consumer confidence remain weak, there is a feeling that we now know where we are and what we are dealing with. 

"The unknown that we were facing only six to nine months ago is now more of a known and this, slowly, is driving property transactions. 

"Demand is by no means strong but it is getting stronger, influenced, in part, by the feeling that interest rates may soon be rising."

Mark Charter, a Partner and Head of Residential Sales in Carter Jonas' Oxford office commented: " In Oxfordshire we've certainly seen increased activity recently.

"On Monday (29 June) we saw one our busiest days of the year so far, with nine offers received on seven sales properties. As a result, one sale has been agreed and we anticipate several more deals being tied up before the end of the week."

"There is definitely a greater degree of confidence amongst buyers, but without sellers committing to put their homes on the market, in some areas we face a shortage of good sales stock."