The average house price in England and Wales jumped a record £1,200 in April, according to new figures from LSL Property Services published today.
Prices have now hit a peak of £263,113, some £54,000 above the recession low point in April 2009.
House sales have risen 40% year-on-year, with 72,000 transactions in April
First-time buyers and buy-to-let landlords have driven the increase in activity.
And East Anglia has joined London and South East as regions where prices now top pre-recession highs.
David Newnes, director of Reeds Rains and Your Move estate agents, owned by LSL, said: "Prices have now climbed over 26% above the recession rock-bottom of April 2009.
"As the floods and bad weather at the start of the year become a distant memory, sales in April have returned to more normal levels.
"Activity is largely being fuelled by increasing numbers of purchases by first-time buyers and buy-to-let landlords, as consumer confidence sweeps the country.
"Low inflation and healthy wage growth are energising household finances, and infusing aspiring buyers with greater optimism."
London is forging the way with 13.2% annual growth, but the rest of the country is following the trail, Newnes said.
"Growth is emanating out from the capital, and prices and activity are progressing steadily across all regions.
"Lincolnshire, Northamptonshire and Nottingham all witnessed house price inflation above the national average.
"In a key indicator of the vigour of the recovery, over the last 12 months prices have risen in 89% of the unitary authorities across the country."
But supply levels need to keep pace, Newnes said. "Constrained supply in the capital has already moderated total London sales.
"Demand shows no sign of slowing. More house building is imperative to keep the momentum going, and to ensure price rises are sustainable, in particular for first-time buyers."
Newnes added: "With the more stringent Mortgage Market Review (MMR) lending conditions now in place, and tighter regulation and stress tests on banks, the borrowing process is slowing.
"But this isn't a setback for the market, so long as the government encourages a healthy flow of available housing stock."
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