Average house prices have passed the £300,000 mark for the first time, according to property experts.

The figure represents a milestone for average house prices and could mean that buying a property is moving further out of reach for many first time buyers.

According to property Rightmove the typical price of a property coming to market rose to £303,190 in March with record prices recorded in London (£644,045), the South East (£399,680) and the East of England (£326,836).

The figures were released on the same day as a new "time to save" report from Hamptons which suggested a single first-time buyer faces a 13-year wait to build a big enough deposit for a home.