The average asking price is now £348,804 after the biggest ever 2.3% monthly increase, according to property website Rightmove.

Annual house prices are up 9.5%, a high not seen since 2014.

The rise in values means asking prices are now up by an eye-watering £40,000 in the two years since the pandemic started, compared with around £9,000 in the previous two years.

There are 16% more prospective buyers sending enquiries to agents compared to the same period in 2021, while new property listings are up 11%.

Price growth has been driven by ‘second-steppers’ who are looking for more space, according to Rightmove.

London recorded the biggest annual jump in buyer enquiries, up by a quarter year-on-year, as a return to the office helps renew demand in the capital.  

Tim Bannister, Rightmove’s director of property data, said: “The data suggests that people are by no means done with their pandemic-driven moves. Such a significant societal event means that even two years on from the start of the pandemic, people are continuing to re-consider their priorities and where they want to live.

“As the final legal restrictions look to be ending soon, and more businesses are encouraging a return to the office for at least part of the week, we now have a group of movers who are looking to return closer to major cities, or at least within comfortable commuting distance of their workplaces.

“High demand and a shortage of available stock are supporting a rise in prices and a new record average asking price this month. The rising cost of living is undoubtedly affecting many people’s finances, especially those trying to save up enough for a deposit to get on the ladder or to trade up. However, despite rising costs and rising interest rates, the data right now shows demand rising across the whole of Great Britain, with many people determined to move as we head into the spring home-moving season.”

Tomer Aboody, director of property lender MT Finance, added: “The rush to buy a home seen over the past 18 months is by no means over, with buyers still looking to take advantage of the low interest rate environment before affordability becomes an issue.

“With space at a premium, and working environments having changed with more people working from home a few days a week, savings made on commuting can be put towards the mortgage.