April’s average asking price is highest on record

The average UK property asking price rose by 4.7 per cent year-on-year in April to £286,133, according to Rightmove.

The annual rate of inflation fell from 5.4 per cent in March but April’s average asking price is the highest on record.

On a monthly basis, asking prices were up 1.6 per cent, a rise of £4,381.

Rightmove director and housing market analyst Miles Shipside says: “Record high housing demand and an under-supply of homes have delivered a new all-time high in the price of property coming to market in the month before the election.

“The high cost of housing is a big concern for many home-hunters, so the contents of the respective party manifestos and well thought-out sustainable solutions to the lack of affordable housing supply will be high on many voters’ agendas too.”