The lender’s house price index showed a monthly change of 1.3% which pushed the average price to a record high for the series.

Indeed, Halifax said annual house price inflation was now at its strongest level in nearly seven years with Wales experiencing the most significant growth.

The latest record high means the average UK property added more than £3,000 to its value in the last month alone.

And the data is particularly significant because it comes a year on from the first easing of national lockdown restrictions, when the housing market began to gradually reopen.

Since that time, the annual growth of 9.5% meant the average UK home increased in value by more than £22,000.

Russell Galley, managing director, Halifax, said: “Heading into the traditionally busy summer period, market activity continues to be boosted by the government’s stamp duty holiday, with prospective buyers racing to complete purchases in time to benefit from the maximum tax break ahead of June’s deadline, after which there will be a phased return to full rates.

“For some homebuyers, lockdown restrictions have also resulted in an unexpected build-up of savings, which can now be deployed to fund bigger deposits for bigger properties, potentially pushing property prices even higher.

“Whilst these effects will be temporary, the current strength in house prices also points to a deeper and long-lasting change as buyer preferences shift in anticipation of new, post-pandemic lifestyles – as greater demand for larger properties with more space might warrant an increased willingness to spend a higher proportion of income on housing.”

Indeed, he thought these trends along with growing confidence if restrictions continue to be eased, would support house prices for some time to come, particularly given the continued shortage of properties for sale.

Wales experienced house price rises of 11.9% over the year with the North West and Humber following close behind, also enjoying double digit growth.

In the South East – traditionally the area where growth is most buoyant – the price rises have lagged in comparison to other regions. London saw growth of 3.1% – much slower than the rest of the country, according to Halifax.

Summer lull unlikely

Iain McKenzie, CEO of The Guild of Property Professionals, thought we were heading for a ‘topsy turvy’ summer in the property market.

“Britain’s estate agents are almost running out of homes to sell as the moving frenzy continues to gather pace,” he said.

“Increased demand coupled with a shortage of properties for sale have caused prices to soar higher than the savings made from the stamp duty holiday, meaning many houses are selling for a premium.

“While you’re enjoying the summer sun, spare a thought for the poor conveyancers who are overwhelmed by an epic backlog of paperwork.

“The slow phasing out of the stamp duty holiday is unlikely to calm the market, and house prices are likely to keep rising for the foreseeable future.

“Whatever happens, the rest of the summer has the potential to be a topsy-turvy time for the property market.”

Meanwhile, Nicky Stevenson, managing director at estate agent Fine & Country said several factors – including the restrictions on overseas holidays – looked set to have an impact on the property market over the coming months.

“There are still some nervous homeowners out there who have been waiting for restrictions to ease before making their move, threatening to ratchet up the level of competition even higher over the next couple of months,” she said.

“If the unlocking goes ahead later this month, this new blood, which until now has been cautious due to the pandemic, will enter the market and there will be even more buyers chasing the must-have properties of the year, namely detached homes with plenty of outside space.

“The market normally has a lull in the summer months but, now almost all foreign holidays appear to be off, there’s nothing stopping the freight train that is unbridled demand from crashing straight through June, July and August.

“It would take someone with a lot of courage to bet against this run of records being extended in June and even July.”