Haart estate agency claims average UK property prices have risen 5.6 per cent annually and 0.9 per cent in March, to reach their highest ever figure.
The new high - £206,726 – comes along with what the agency says is a surge in buyer demand, with 22 per cent more registrations, as the prospect of an uncertain result to the May 7 general election fails to dampen spirits
In contrast first-time buyers are benefiting from falling prices amongst properties they are most likely to buy, says Haart. The average age of a FTB is now 31.5, marginally down from 31.8 last month.
Paul Smith, Haart’s chief executive, says buyers and sellers should consider acting fast before polling day.
“History tells us property prices tend to take a swing upward after a general election and even for those current homeowners upsizing, the increase in price on their new home will be greater than any gains made through sitting tight in their current property” he says.
“London house price growth has slowed but on average prices are still up on an annual basis in March, driven by unrelenting high demand – 19 buyers are still registered for each new property for sale in the capital” says Smith.