House price growth is showing "tentative signs of moderation", according to Britain's second biggest building society.
Nationwide said prices in March rose by 0.4%, compared with a 0.7% rise the previous month.
However, on an annual basis, house price inflation continued to rise, to 9.5%, up from 9.4% in February.
Meanwhile, the gap between house prices in London and the rest of the UK has reached a record.
Average values in the capital are now more than double those in the rest of the UK, at £362,699.
SlowdownThe overall average value in the UK now stands at £180,264, but that is still 3% below the 2007 house price peak.
And although March saw the 15th successive monthly increase in prices, the rate of increase is slowing.
"There are some tentative signs of moderation," said Nationwide's chief economist, Robert Gardner.
However, he added that annual price growth was "continuing to run at a robust pace" and that low mortgage rates and an improved economic outlook meant the housing market recovery was now "firmly established".
London gapLondon house prices rose by 18% in the first quarter of this year, compared with the same period in 2013, and prices in the capital are now 20% above their 2007 peak, Nationwide said.
End Quote Robert Gardner Nationwide chief eeconomistThere are some tentative signs of moderation"
"The gap between house prices in London and the rest of the UK is the widest it's ever been," Mr Gardner added.
Despite this, Nationwide said all UK regions saw house prices grow for the third financial quarter in a row.
The lender also reiterated its concern that not enough new properties were available to satisfy the growing demand, with new builds 40% below pre-crisis levels.
The Nationwide's figures are based on a sample of its own lending, and differ from other data.
Help to BuyLast week the Office for National Statistics said UK house prices in January were up 6.8% compared with a year earlier, driven by a 13.2% increase in London.
And separate figures from the UK's major banks showed mortgage borrowing was at its highest since August 2008.
The recent surge in prices has largely been put down to the impact of the Help to Buy scheme, which offers government loans of up to 20% on new homes, and mortgage guarantees against lenders' losses if they offer loans to those with only a small deposit.
In the Budget, Chancellor George Osborne confirmed plans to extend the first phase of Help to Buy - the equity loan offer - until the end of the decade.
But the Bank of England, among others, has warned the scheme could create a housing market bubble.
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