The average cost of a property in London has rocketed to a record of half a million pounds.
The figures released today by property website Rightmove revealed the average asking price in the capital was typically £509, 870.
This figure means London asking prices are more than double the national average, 8.6% higher than a year ago.
The North saw the strongest monthly increase, pushing typical asking prices to £152,689.
The report adds to several studies which have pointed to seller confidence lifting amid signs that home buyers are finding it easier to get access to a mortgage.
The study quoted an estate agent in London, which has had strong interest from overseas buyers, describing activity levels as "ridiculous".
Annual house prices in London have increased by 4.9%, according to the latest figures from the Office for National Statistics.
In the 12 months to April 2012 England saw a rise of 1.7%, while a decline was recorded in Wales, Scotland and Northern Ireland.