Average house prices in England and Wales are £34,000 higher than at the height of the housing boom in February 2008.

Prices are currently standing at £273,528, some £34,192 higher than the 2008 peak, according to a report released by property firm Your Move.

The report said over half of the £34,000 jump (£17,340) was added in the past year, following an annual rise of 6.8%.

Completed home sales in the opening two months of 2015 were down 9% compared to a year ago, the report said.

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Adrian Gill, Director of Your Move, said: "Seven years on, and the average house price across England and Wales is £34,192 higher than at the pinnacle of the housing boom in February 2008. We’re performing well by yesterday’s standards, but we’ve got to keep an eye on the trajectory of our current recovery. Average house prices are currently 6.8% (£17,340) higher than they were last year – but this is the smallest annual increase witnessed for fourteen months, as the market mellows from the extraordinary noise of the past year.

"So far in 2015, completed home sales are 9% lower than over the same period twelve months ago, but demand hasn’t faded out of view. February still marks a 4% improvement on January activity levels, and in recent weeks, we’ve seen agreed sales climb above 2014 levels, as activity comes into focus."

(IT)