The average asking price for a house rose above £300,000 for the first time. This is according to the latest data from Rightmove.

House prices have been close to the £300,000 mark for some time across England and Wales, with new monthly records being set consistently.

In February, the average asking price was £299,287, trouncing the previous record of £296,549 as set in October last year.

Now, in March, the average price tag for a house is £303,190, up 7.6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} from this time last year.

During the last 10 years, house prices have risen by more than £100,000. In 2006, the average was £200,980.

New records were also established for asking prices in six regions in March:

:: The North West – £177,437

:: The West Midlands – £204,140

:: The South West – £292,251

:: The East of England – £326,836

:: The South East – £399,680

:: London – £644,045

However, unlike previous months, the machine of house-price growth was not London, but across the North and West of England. This is according to the property website.

Prices in London rose by 11{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} from the year before, but were flat from February.

Experts have indicated the rise in stamp duty, which kicks in from April, has fueled a rush on house-buying in recent months.

Rightmove’s Miles Shipside said: “On average, 30,000 properties have come to market each week over the past month, up by 3{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} on this time last year, but there are insufficient numbers of newly listed properties in many parts of the country to meet demand.

“However, stronger growth in average earnings would not have helped the situation, as it would simply have enabled buyers to bid prices up even higher, chasing the limited supply of suitable housing stock.”

Source: Sky news