Property values in London are up by over 12% leading the UK which has seen mortgage lending 4% higher in March and 37% higher for the quarter.

The regulators are introducing tougher tests for home buyers based on affordability to prevent mistakes leading to the financial crisis.

Figures from the Office of National Statistics (ONS) show the price of homes for first time buyers have increased by 10.5% in the last year.

The Office for National Statistics (ONS) have reported UK house prices are up 9.1% in the last year to February 2014.

Data from the Bank of England shows the number of people taking out mortgages in February has fallen for the first time in the last year.

House prices were up 6.8% in January since a year earlier after a lost decade of building leaves the UK with a significant shortfall in homes.

Mortgage lender Halifax reports a 2.4% rise in house prices for February with pressure on the government to cancel Help to Buy scheme.

According to the Nationwide average house prices have increased by 9.4% in the last year and are not slowing down.

The Office of National Statistics (ONS) has confirmed that the average house prices will bring higher stamp duty to thousands.

Rightmove, stated that record numbers of houses are being put on the market for sale with near-frenzied buying sending asking prices to record levels.

House prices rise 8.8% according to the Nationwide as first time buyers are back in the market for properties.

The mortgage industry expects to see further demand for mortgages among consumers in 2014 and that demand remains healthy rather than excessive.