Asking prices climb 1.4pc in Feb

The average property asking price in February rose 4.1% from £224,060 in January.

London prices are now within 1% of an all-time high as new listings are down 9% on this time last year.

Rightmove said more mortgage deals, particularly the number of 90% loan to value products, had helped to boost housing market confidence.

Miles Shipside, director of Rightmove, said: “Since the credit crunch you’ve had to be squeaky clean to pass a credit score but lenders have more product offerings and are advertising their availability far more strongly in the media.

“If your mindset is that lenders do not want to lend then you may not want to bother sourcing finance and face potential rejection.

“Some agents report that this higher product profile from lenders has given some previously disenfranchised buyers new hope.”