House prices are now 30% higher than the year before the financial crash, according to property website Zoopla (LSE:ZPLA) PLC.
A lack of new houses coming onto the market is driving prices higher, it added with the average price now £230,7000 or 5.4% above a year ago.
Family houses especially are popular said the website as people look for more space with the number of properties sold for more than the asking also hitting a record at 40%.
It is the UK’s regions that driving the rises with Northern Ireland and Wales jumping by 8.6% and 8.4% respectively over the last year.
Demand in London is weaker the closer you get to the centre with an 86% rise in the suburbs compared to the pre-pandemic period dropping to just 2% in inner London.
Online estate agent OnTheMarket also said today there is no let-up in demand for houses even with the tapering of the stamp duty holiday.
Pent-up demand, a re-evaluation of housing needs arising from the impact of COVID-19 and continuing low mortgage interest rates are driving the market it said.
On 30 June 2021, total advertisers on its site had grown to 13,289, an increase of 4.5% from 31 January 2021, principally due to an increase in agency branches listing, up 4.9% to 11,169.
Visits to its portal in June 2021 were the second-highest achieved by the company, at 28mln.