According to Government's statistics, the yearly rate of house price rises touched its maximum level since November 2007.

The Department for Communities said that property prices increased by 9.7% annually in March, the 12th successive month of annual price increase.

The average value of a UK house was up by 0.7% compared with February.

London witnessed the largest increase in prices over the year, but prices dropped in Northern Ireland.

The rate of the average dwelling hit £205,598 in March, though the usual sale price for those getting on to the property hierarchy was lesser.

The average home cost for first time purchasers was £151,749, 12.6% more than a year back, and the average cost paid by previous owner tenants was £238,794, some 8.6% rise on 12 months before.

Yearly house price increase was 10.1% in England, 7.2% in Scotland and 8.1% in Wales, respectively. In Northern Ireland, prices plummeted by 6.9% on an average in the year to March.

This placed the cost of an ordinary house at £212,266 in England, £165,106 in Scotland, £150,648 in Wales, and £174,172 in Northern Ireland.

In the provinces of England, yearly house price rise increased in all regions. The biggest was in London (15.6%) and the minimum in the North West (5.1%).