House prices jumped sharply again in April as a slowdown in the number of homes coming up for sale continued to hit the market.
Estate agents are lapping up strong sales and a spike in buyer interest, but new listings remain woefully low, the Royal Institute of Chartered Surveyors said.
Chris Stonock, an estate agent and surveyor at Your Move in County Durham and Tyne and Wear, said he had seen another record breaking month for sales in April, adding that demand continues to outstrip supply and stock levels are tumbling.
On Tuesday, the Queen s Speech touched referenced Government plans to ease planning rules to help alleviate Britain s housing crisis by building more homes.
UK won t reverse aid budget cut even after the economy recovers, Chancellor Rishi Sunak admits
The Chancellor said the economy could recover by the end of the year, but the damage to the public finances will be long-lasting
Updated
Chancellor of the Exchequer Rishi Sunak (Image: PA)
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In the elections just held, including English local councils and regional assemblies in Scotland and Wales, the Conservative Party emerged as the overall winner in national terms. Some media and political analysts focus on this point, but actually the election results are complex, with other parties making gains.