The property drought is continuing with listings down 4.6% on a year ago and average new asking prices barely changed, Rightmove reported this morning.
However, the portal says that pent-up interest in property is high, with someone contacting one of its agents every second.
It said that asking prices have hit record highs in four UK regions, where new listings are down 0.3% on a year ago. However, elsewhere listings have dropped an average of 6.5%.
The average new asking price is now £308,290, just 0.1% up on this time last year. The average is hugely boosted by London’s average new asking price of £621,589, compared with an average new asking price of £153,752 in the north east.
The portal’s data does show other significant regional variations, with new asking prices in Wales, the west and east midlands, and the north-west of England all up.
Average new asking prices in Wales are up 2.1% annually to £200,386 and have increased by the same percentage to £198,399 in the north-west.
Sellers in the east midlands are also asking more for their properties, increasing asking prices by an average of 2.5% to £228,927, while asking prices for properties in the west midlands have had average increases of 3% to £232,247.
The portal claims this is a sign of the typical spring bounce in the market.
While average new asking prices across England and Wales are almost static annually, they are up 0.9% on a monthly basis this month, Rightmove said.
Agency stock increased to 50 properties per agent on average in April, up from 48 in March and 47 a year before, while average time on the market hit a six-month low of 64 days.
Miles Shipside, director of Rightmove, said: “In spite of some of the challenges in the market, interest in property remains very high.
“People’s ongoing desire to satisfy their pent-up housing needs means that on average someone contacts an agent on Rightmove every second.”