Large rise in asking prices

There was a 4.1% rise in asking prices during February, according to Rightmove.

The £9,192 increase is the highest monthly rise Rightmove has recorded since April 2002.

The firm said the rise is in part fuelled by the cash-rich sectors of the market where buyer demand is exceeding suitable property supply, though there is also evidence of increasing housing market confidence.

Miles Shipside, director at Rightmove, said: “We’re seeing a strong ‘spring bounce’ in asking prices this year