Buyer demand has pushed asking prices in London to a new record of £431,013, Rightmove has reported.

This equates to an increase in asking prices of 1.6%.

Property coming to market is 15% higher than April last year and 59% up on 2009.

The effect on time on the market for properties in the capital has been marked, failing from its January peak of 114 days to 73 days in April.

Miles Shipside, director of Rightmove, said: “Estate agents are reporting buoyant market conditions and sales activity in the capital resulting in a shortage of property for sale in popular areas. While the rest of the country struggles to sell or raise deposits to buy