London prices reach new high

House prices have seen their biggest spring bounce in six years, according to property website Rightmove. London asking prices have reached a new high of £455,159, up 7.9% year-on-year.

The average asking price in Kensington and Chelsea has broken the £2 million barrier for the first time, with typical prices standing at £2,000,120 in the borough.

Strong interest from overseas buyers has helped to boost the London market, while all 10 regions in England and Wales recorded monthly price rises in March.