London boom is spreading

London property - Barbican property, Clerkenwell flats , prices have spread to the rest of the country, according to Rightmove, the property website.

In its latest survey, the group claims property prices rose more than 1pc across all regions in England and Wales last month.

Last month, average property asking prices saw the largest monthly rise in 5 years, up 3.6pc or £8,307, said Rightmove.

Miles Shipside, commerical director, said: "Sellers' asking prices provide one of the earlier indicators of which way the market is headed, and whilst a boost is to be expected arouond Easter, £8,000 in a month is the largest amount we have ever recorded. Every region saw major increases, with the minimum jump being £3,000."

The average asking price for a property now stands at £236,490, £30,816 higher than a year ago.

The group said it expects the impending introduction of Home Information Packs (HIPs), on June 1, to boost the number of properties coming on to the market next month.

Stock hungry estate agents will see it as a one off uk opportunity for a "feeding frenzy", as they try to persuade sellers to put their houses on the market before HIPs June deadline.

Mr Shipside added: "The early indications are that the Spring timing of the run up to HIPs implementation, combined with the current market conditions, will lead to a distortion of traditional market forces over the coming months.

"We have a unique set of market conditions, and followers of housing fortunes should not regard this as the start of another national boom. As prices go higher, fewer buyers can afford to get on the ladder, or trade up, and that will restrain ongoing increases in many parts of the country."