The average price of newly marketed property has jumped up by 1.3 per cent (+£3,877) this month. A larger monthly rise at this time of year has only been recorded once since 2007 and it matches the monthly increase recorded in last year’s buy-to-let-boosted period. There are signs of a changing market however, and breaking with the tradition of the market often being driven by the northern or southern halves of the country, it is the two Midlands regions that clearly lead the way in both the monthly and annual price metrics.

The fastest pace of price rises anywhere in the country compared to this time a year ago is in the East Midlands, up by 5.7 per cent (+£10,801) year-on-year and 2.1 per cent (+£4,205) this month. The price of property coming to the market in the East Midlands is at a record high, breaking through the £200,000 barrier for the first time to £200,620. The West Midlands region has the second highest annual increase with prices up 4.2 per cent (+£8,658) and matches the East Midlands’ 2.1 per cent monthly rise (+£4,321). The region with the next biggest year-on-year rise is the East of England at 3.9 per cent (+£12,885), held back by a much more subdued 0.8 per cent (+£2,712) monthly rise.

Miles Shipside, Rightmove director and housing market analyst comments: “The price-rise crown has shifted from its previous strongholds. The pace is no longer being set by the more affluent commuter-belt south, including London with its international appeal. Neither is it set by the cheaper north driven by a mass of investors swooping on high buy-to-let yields. It is the Mighty Midlands that is the current powerhouse of price rises.”