House hunters surge to their highest level in five years in January The number of mortgages on the market has increased by around one third since the Funding for Lending scheme was introduced, with lenders slashing their rates to some of their lowest ever levels since the scheme was launched. More than 3,000 homes have also been reserved under the Government's NewBuy scheme, which was launched last spring and helps people to buy a new-build home with just a 5pc deposit. Meanwhile, Land Registry figures released today showed that house prices jumped by 1pc month-on-month in January across England and Wales to reach £162,441 on average. Prices increased at their fastest rate in London. On average, London homes sold for £373,207 and prices are 7.1pc above what they were a year ago. By contrast, prices in the North West are down 4.2pc year-on-year, with houses selling on average for £106,527 each. Mr Hayward also said: "Strong financial results from some of the country's leading house builders this week suggest a growing confidence that some form of a recovery is beginning to take shape."