Asking prices up annually

The latest figures show that property asking prices rose in the year to April 2008, spelling good news for people with first-time buyer mortgages.

According to the latest Rightmove House Price Index, there was a 1.3 per cent increase in asking prices in that time.

On a monthly basis, East Anglia was the most successful region, with asking prices rising by an impressive 5.5 per cent.

People with first-time buyer mortgages may also be pleased to hear that that prices rose by 2.9 per cent in the West Midlands, 2.3 per cent in the south-west and 0.8 per cent in the north.

Greater London remains the most expensive place in England and Wales to buy a property, with the average price standing at £403,545, compared to the overall average of £239,521.

Rightmove's commercial director Miles Shipside said that it is currently a buyers' market.

"Buyers who have saved through the winter and are now emerging to enter the spring market will find there are deals to be had. It's a buyers' market," he commented.

"It could be a good time to trade up in the market," continued Mr Shipside.

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