LSL: April transactions up 40pc

Statistics for the first four months of 2014 mirrored this trend, with sales activity increasing by 39% fuelled by first-time buyers and buy-to-let landlords.

East Midlands saw the highest increase in annual sales, as they rose by 42.5% in Q1 2014.

Dr Peter Williams, housing market specialist and chairman of Acadata, said: “The March sales figure was an anomaly, being affected by the poor weather, and by the flooding experienced during the early months of 2014.

“We are therefore seeing the housing market return to a more ‘normal’ level of sales, matching the number of transactions that took place prior to the credit squeeze.”

Average UK house prices climbed by £1,200 in April alone, hitting £263,113.

They now stand 26% higher than during the grips of the recession in April 2009, accounting to £54,250 on average.

Much of this boom has occurred in the last 12 months, as they increased by 7.3%, or £17,877 on average.

In London prices are inflating by 13.2% annually, more than double any other region.