House price growth was at its weakest annually since October 2019, according to lender Halifax.
It said the average sale price stood at £287,880 last month, with was 0.8pc up on February but only a 1.6pc annual gain.
It comes as rival lender Nationwide said house prices have fallen by 3.1pc in the biggest annual decline since July 2009.
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What happened overnight
Asian stocks sank while bonds and safe-haven currencies increased as mounting evidence of a US slowdown fuelled worries about a possible global recession.
Equity investors were inclined to take money off the table after recent strong gains and with many global markets heading into a holiday for Good Friday, when potentially pivotal US monthly payrolls data is due.
Japan’s Nikkei fell 1.3pc, making it the region’s worst performing major market alongside South Korea’s Kospi , which sank the same amount.
Chinese blue chips eased 0.4pc. Hong Kong’s Hang Seng sagged 0.4pc, with tech shares on the index down 1pc.
Wall Street stocks delivered a mixed performance on Wednesday following the latest signals that the Federal Reserve could pause interest rate increases in response to a slowing US economy.
The Dow Jones Industrial Average climbed 0.2pc to close at 33,482.72.
However, the broad-based S&P 500 finished 0.3pc lower at 4,090.38, while the tech-rich Nasdaq Composite Index dropped 1.1pc to 11,996.86.
The price of US Treasuries rose, pushing down yields as weaker-than-expected reports highlighted a slowdown in the US jobs market and services sector, reinforcing expectations that the Federal Reserve could soon loosen monetary policy.
The 10-year yield dropped by as much as eight basis points, falling to a low of 3.26pc. It is the benchmark bond’s lowest level since mid-September.
