Asking prices for homes hit new high

A 2.1 per cent month-on-month rise pushed average prices to £249,841 this month, with new record prices set in London, the South East and East Anglia, according to Rightmove. This has been the strongest start to the year since 2004 in terms of asking prices, with average prices rising by 9.1 per cent or more than £20,000 in 2013 so far, the website said.

London asking prices surged past the half a million pound milestone for the first time this month, standing at £509,870 typically, more than double the national average.

Prices rose month-on-month in every region across England and Wales. The North saw the strongest monthly increase, with a 4.2 per cent rise pushing typical asking prices to £152,689.

Yorkshire and Humberside and the East Midlands were the only regions where prices were lower this month compared with a year ago, dropping by 1.1 per cent and 0.6 per cent respectively.