House prices soar by 9.9pc

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“The market has turned a little since the period the ONS is reflecting and buyers are now taking a breath.

“The upward pressure on prices has subsided as buyers have decided that they won’t pay just anything. We are seeing the market correct itself without the need for blunt instruments of intervention from the Bank of England.

“Potential buyers are also paying heed to the never-ending warnings from Mark Carney regarding interest rate rises. Even those clients of mine who are buying for cash and don’t need a mortgage are paying attention to the warnings, and taking their foot off the gas a little.”

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