THE average price of a home coming to market has hit a record high of £313,655. This compares to the previous record high of £310,471 in June 2016.

April prices rose by 1.1 per cent compared to the previous month and buyer activity is on the up with the number of sales agreed, at its highest for this time of year since 2007, before the credit crunch.

Miles Shipside, Rightmove director and housing market analyst, said: "High buyer demand in most parts of the country has helped to propel the price of newly marketed property to record highs. There are signs of a strong spring market with the number of sales agreed achieved at this time of year being the highest since 2007. It remains to be seen what effect the run-up to the snap election will have, though any slowdown in activity will be counterbalanced by the market's current fast pace. Indeed, in locations where choice of suitable property is limited hesitation could mean losing out to others who still decide to act."

According to Rightmove there has been strong buyer activity among first time buyers of homes that have two bedrooms or less, with a 6.5 per cent increase in purchases. This, however, has been tempered by a slower pace of activity at the higher end of the market, with an overall rate of increase of just 2.2 per cent – the lowest recorded since April 2013.

Issuing a note of caution, Shipside said: "Increasingly stretched buyer affordability will continue to be a price moderator for sellers who are over ambitious with their pricing, tempering the pace of price rises. Strong buyer activity this month has led to 10 per cent higher number of sales agreed than in the same period in 2016. This large year-on-year disparity should be viewed cautiously as the comparable time span in 2016 saw a drop in buy-to-let activity with the additional second home stamp duty.

"However they are also up by 3.8 per cent when compared to 2015. With the growth in household numbers and new build supply struggling to keep pace, demand is strong and has led to the highest sales agreed numbers at this time of year since the heady pre-credit crunch levels."