New asking prices have bounced up to another record, averaging £309,439.

This morning Rightmove said asking prices for properties new to the market are 0.4% up on last month, and 1.7% up on June last year.

Rightmove also said that there is a north/south divide in terms of supply – it is dwindling in the north, but up 17.5% in the south compared with a year ago.

From the west midlands northwards, stock has fallen away since a year ago, by between 2.2% and 10.4% in Scotland.

Stock has also dwindled in Wales, by 10.3%.

By contrast, the amount of available stock has shot up almost 25% on a year ago in the east of England; by 20% in the south-east; by 16.4% in London; 8.2% in the south-west; and by 4% in the east midlands.

Miles Shipside, Rightmove director and housing market analyst, said: “The national average new seller asking price continues to creep upwards, setting a new record for the third consecutive month.

“Sales agreed by estate agents overall in May have bounced back from a slower start to the year, and while still slightly below May last year they are ahead of 2016.

“This is a pleasingly strong flourish at the end of the spring selling season given the political uncertainty and stretched buyer affordability.

“At an initial glance all of this fits with a theme of ‘steady as she goes’ as the spring market concludes. However, if you dig a bit deeper, you’ll find that the main driver is good buyer demand in the comparatively stock-starved northern half of Britain’s housing market.

“This demand, fuelled by prices that in comparison to the south are still relatively affordable, has meant the number of properties left available to buy has dwindled in the north and increased in the south.

“Sellers in locations that have seen larger percentage increases in the number of unsold properties will have to price lower than properties they are competing against, as there are few better tactics than a bargain price to tempt buyers.

“It’s likely to take extra time to sell over the next few months, especially in the southern half of Britain.”