Further rises in house prices may be hindered by increasing numbers of properties entering the market, according to data released by The Royal Institution of Chartered Surveyors (Rics).

Rics says new instructions to sell outpaced inquiries from new buyers in February - the second month in a row that this has occurred.

"There was a resumption of interest in the housing market following the fall that took place in January, which was due partly to the extreme weather conditions during that month and the reversion back to the previous stamp duty regime," said Jeremy Leaf of Rics.

"The magnitude of the gains going forward is likely to continue to ease, reflecting the fact that new supply coming on to the market is starting to outstrip fresh demand."