House prices in England and Wales increased by 4.4 per cent to  in the year to £314,643 October, the latest index from e.surv suggests.

Month-on-month prices rose by 0.9 per cent the figures show, with the strongest increase of 2.5 per cent registered in Greater London.

Annual growth was also highest in the capital with an increase of 7.3 per cent year on year.

The lowest growth was in the West Midlands where prices increased by 1.9 per cent year on year and by just 0.1 per cent month on month.

E.surv director Richard Sexton says: “House prices continued to rise month on month through October, however the momentum has slowed significantly. 

“[The annual] increase is still thought to be largely buoyed by the purchase of bigger, and often more expensive, homes – activity which has been encouraged further by the stamp duty holiday in England.

“The resilience of the housing market through the crisis has been astounding, as shown by the continual rise of prices since June. 

“The first national lockdown, which left many in England and Wales almost totally confined to their current homes, certainly seems to have re-focused the minds of a lot of consumers onto the property market.

“At e.surv, our present focus is centred on providing an effective and safe service within England’s lockdown regulations, as well as supporting the market in Wales as it exits the fire break. 

“We will continue to act with the utmost consideration for the safety and wellbeing of our customers, colleagues and the wider public as we continue to navigate the pandemic.”