House price see biggest monthly surge for 20 years: Rightmove

House prices rose at the fastest rate on record this month, defying predictions inflation and the cost-of-living crisis would cool the market.

The average asking price of property rose by 2.3% between January and February, equivalent to more than £7,700 – the biggest monthly jump in cash terms ever recorded by Rightmove.

Asking prices have risen by nearly £40,000 in the two years since the pandemic started, compared to just £9,000 in the previous two years.