London property prices rose 29.5% annually to an average of £473,500 according to latest figures from haart.
UK new buyer registrations jumped 18.7% in a single month in March whilst first-time-buyer registrations across the UK increased 44.2% annually and 17.3% on the month as spring prompted a surge of new interest in buying.
Average first-time-buyer property prices are up 9.8% annually to an average £159,749 against a UK property price increase of 7.4% annually in March, now £195,511.
"London is now a country of its own in property market terms with average house prices in the capital up 29.5% on last year. There has been an unprecedented surge in both the number of new buyers, up 32.7% annually, as well as first-time-buyers, up 43.7% annually. Foreign investment continues to flood in – people know that there is no more lucrative place in the world to invest your money and see outstanding returns.