The West Midlands has become the region with the highest rate of annual house price growth - with Birmingham leading the way in peak property prices.

According to the Your Move house price index, annual house price growth is now at 4.8%, and Birmingham has seen an annual increase of 7.8%.

This is the first time that the West Midlands has taken the top spot in regional annual price growth since Your Move records began in January 1996.

By contrast, Greater London has fallen back into 9th position in terms of regional price change, one place ahead of the North East, which comes in last in the latest figures.

Middle-England (West Midlands, East Midlands and East of England) and the South West are having the strongest growth in house prices, with the South East and Greater London showing lower rates than in the recent past.

By contrast, Yorkshire and Humber, Wales and the North East currently occupy 7th, 8th and 10th position in the regional price growth league.

This research also suggests that the average home in the West Midlands now costs £212,706.

This makes it the fifth most expensive region, with Greater London, the South East, the South West and the East all having higher average property prices.

The average house price in Greater London now stands at a staggering £606, 783.

“In England and Wales, house price inflation continues but at a relatively low, though still positive, level.

“The average annual rate of house price inflation was 3.3% in March, slightly up from the revised 3.1% seen in February.

“From May 2016 onward, there has been a relatively gentle and almost straight-line increase in house prices, despite the Brexit referendum in June 2016.

“There is little in the short-to-medium term that will disrupt the market greatly, with interest rate increases seemingly on hold, mortgage supply and pricing remaining favourable and consumer confidence strong.

“In addition, first time buyer numbers are up, not least as a consequence of government schemes and the Bank of Mum and Dad.

“However, with supply still tight, rising house prices remain a problem. We therefore cannot afford to overlook the ongoing housing shortage in the UK, which continues to dampen the hopes of many would-be homeowners.”