By . Mark Duell . PUBLISHED: . 09:31 EST, 27 May 2013 . | . UPDATED: . 18:40 EST, 27 May 2013 . House prices are surging at their fastest in six years with some boom areas soaring by 25 per cent.A property shortage coupled with more accessible cheap home loans backed by the Bank of  England and the Government are driving the market. Recently gentrified parts of  London are even the scene of bidding wars as prices rocket by up to a quarter, said estate agents. In recent months, there has also been a sharp increase in sales in many parts of England and Wales, reminiscent of previous booms. Movement: Prices edged up month-on-month by 0.3 per cent in East Anglia, 0.2 per cent in the South West and 0.1 per cent in the Midlands. They were flat in the North East, the North West, Yorkshire and Wales . The rises come amid warnings that official measures to boost the housing market risk creating a dangerous price bubble. The overall drive came almost entirely from London and the South East, analysts Hometrack said. House prices in London and the South East increased by 0.9 and 0.5 per cent respectively month-on-month, while they rose more gradually by an average 0.1 per cent across the rest of Britain. Prices edged up month-on-month by 0.3 per cent in East Anglia, 0.2 per cent in the South West and 0.1 per cent in the Midlands. They were flat in the North East, the North West, Yorkshire and Wales. Meanwhile Mr Markey said Brixton demand is so strong that Haart now has an ‘open house’ strategy where potential buyers are invited to group viewings of properties, which are usually sold on the day. He told the Financial Times: ‘It's boom time. Prices have gone up at least 25 per cent here in the past year. We say to people: “If you want to get in before the open house, you have to pay top dollar”.’ Changing: Paul Markey, an estate agent for Haart in the gentrifying neighbourhood of Brixton (pictured), south London, said it was 'boom time' and he had seen prices rise by 25 per cent there in one year . Lenders and surveyors have reported signs of activity lifting in the housing market after the launch of Government schemes which have given people better access to mortgages and lower rates. 'It's boom time. Prices have gone up at least 25 per cent here in the past year. We say to people: "If you want to get in before the open house, you have to pay top dollar"' Paul Markey, Haart in Brixton, London . But Hometrack said the main reason for the price increases is a lack of housing for sale as home owners remain cautious due to the tough economic environment. It said the signs of an improved market for sellers could spell more ‘unrealistic’ sellers coming to market in the next few months with inflated prices, which would lead to a sales dip. Evidence that sellers are finding it easier to stand firm on their prices was shown by the percentage of the asking price achieved - 94 per cent on average this month, the highest since July 2010. London prices are being hiked by a supply and demand gap at its widest since 2009. Demand grew by 15 per cent in six months, and the supply of homes coming up for sale has dipped by 0.6 per cent.
Overall prices rose by 0.4 per cent month-on-month in May, report finds .
Competition boost made it strongest uplift since same month in 2007 .
Haart estate agent in Brixton, London, says it's 'boom time' for sales .
By . Mark Duell . PUBLISHED: . 09:31 EST, 27 May 2013 . | . UPDATED: . 18:40 EST, 27 May 2013 . House prices are surging at their fastest in six years with some boom areas soaring by 25 per cent.A property shortage coupled with more accessible cheap home loans backed by the Bank of  England and the Government are driving the market. Recently gentrified parts of  London are even the scene of bidding wars as prices rocket by up to a quarter, said estate agents. In recent months, there has also been a sharp increase in sales in many parts of England and Wales, reminiscent of previous booms. Movement: Prices edged up month-on-month by 0.3 per cent in East Anglia, 0.2 per cent in the South West and 0.1 per cent in the Midlands. They were flat in the North East, the North West, Yorkshire and Wales . The rises come amid warnings that official measures to boost the housing market risk creating a dangerous price bubble. The overall drive came almost entirely from London and the South East, analysts Hometrack said. House prices in London and the South East increased by 0.9 and 0.5 per cent respectively month-on-month, while they rose more gradually by an average 0.1 per cent across the rest of Britain. Prices edged up month-on-month by 0.3 per cent in East Anglia, 0.2 per cent in the South West and 0.1 per cent in the Midlands. They were flat in the North East, the North West, Yorkshire and Wales. Meanwhile Mr Markey said Brixton demand is so strong that Haart now has an ‘open house’ strategy where potential buyers are invited to group viewings of properties, which are usually sold on the day. He told the Financial Times: ‘It's boom time. Prices have gone up at least 25 per cent here in the past year. We say to people: “If you want to get in before the open house, you have to pay top dollar”.’ Changing: Paul Markey, an estate agent for Haart in the gentrifying neighbourhood of Brixton (pictured), south London, said it was 'boom time' and he had seen prices rise by 25 per cent there in one year . Lenders and surveyors have reported signs of activity lifting in the housing market after the launch of Government schemes which have given people better access to mortgages and lower rates. 'It's boom time. Prices have gone up at least 25 per cent here in the past year. We say to people: "If you want to get in before the open house, you have to pay top dollar"' Paul Markey, Haart in Brixton, London . But Hometrack said the main reason for the price increases is a lack of housing for sale as home owners remain cautious due to the tough economic environment. It said the signs of an improved market for sellers could spell more ‘unrealistic’ sellers coming to market in the next few months with inflated prices, which would lead to a sales dip. Evidence that sellers are finding it easier to stand firm on their prices was shown by the percentage of the asking price achieved - 94 per cent on average this month, the highest since July 2010. London prices are being hiked by a supply and demand gap at its widest since 2009. Demand grew by 15 per cent in six months, and the supply of homes coming up for sale has dipped by 0.6 per cent.
month-on-month by 0.3 per cent in East Anglia, an estate agent for Haart in the gentrifying London, said it was 'boom time' and he had seen Haart in Brixton, London . But Hometrack said the this month, the highest since July 2010. London