Property asking prices have recovered from a Brexit blip, hitting an all-time high of £313,655 in April after rising 1.1 per cent month-to-month.

Property website Rightmove found average asking prices increased £3,547 from March, surpassing the previous peak of £310,471 reached in June 2016, at the time of the EU referendum.

According to Rightmove this increase has been driven by strong buyer demand with the market seeing the highest number of sales agreed at this time of year since 2007, pre-credit crunch.

The average national asking price has now reached £313,000, and while the rate of growth in the rest of the country continues to outpace London house prices, the average cost of buying a home in the capital is double the national average at £636,777.

The East of England, home to popular London commuter areas like Cambridge and Essex, saw the biggest annual price rise of 5.3 per cent, with the West Midlands, home to Birmingham, close behind with 5 per cent growth.

The rate of growth is being propelled by first-time buyers, with property prices in this sector hitting a new record of £195,000, up 6.5 per cent compared to 2016.