Property asking prices in Britain jumped 0.4 per cent during five-week period ended January 9, driven mainly by soaring buyer interest and shortage of houses for sale.

Property website Rightmove said that the latest increase pushed asking prices in England and Wales up by 4.1 per cent in January as compared with the same period of last year.

Average cost of home in England and Wales climbed month-on-month to £222,261 in January.

Speaking on the topic, Miles Shipside from Rightmove said, “This rise in asking prices is an early indicator that new sellers in 2010 have the confidence to try for a higher price.”

Six of ten areas reported increase in prices, with the North West reporting the highest rise of 4.8 per cent. Asking prices for property in London climbed 2.3 per cent, where Westminster reported the highest increase of 7 per cent.

Rightmove said prices would keep on rising in the coming months as the average estate agency branch has only 63 properties for sale, the lowest level in the past two years.