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Average UK house prices were flat in March on-month at £240,384, according to lender Halifax.
Compared to March 2019, the average house price was up 3.0%.
Market confidence had been rising following last year's conclusive UK election result, though 'we ended the month in very different territory' due to the Covid-19 crisis, Halifax managing director Russell Galley said.
'On a practical level, most market activity has been paused, with the public rightly following advice to stay at home, and estate agencies, surveyors and conveyancers temporarily closing as a result,' he added.
'With viewings cancelled and movers being encouraged to put transactions on hold, activity will inevitably fall sharply in the coming months.'
'It should be noted that with less data available, calculating average house prices is likely to become more challenging in the short-term.'
'However, it's still too early to properly assess what potential long-term impacts the current lockdown might have on the UK housing market.'