The average asking price for UK homes rose to a record £377,182 in April, marking the first monthly increase in nearly a year, according to data from property site Rightmove PLC (LSE:RMV).
Prices climbed 1.4%, or £5,312, outpacing the typical April rise of 1.2%, as seller confidence returned to the market.
The surge comes despite a 10-year high in available stock, which is giving buyers more choice and fuelling competition among sellers.
Rightmove’s Colleen Babcock warned that overpricing could be a risk, with well-priced homes more likely to sell quickly and without reductions.
New buyer demand in March rose 5% year-on-year, while new sellers were up 4%. However, regional differences are emerging: while the Midlands and North hit new highs, the South East and South West are lagging.
London also saw asking prices reach a new peak, particularly in inner boroughs, though falling demand raises questions over how long the gains can hold.