House prices up yet again

House prices are rising at their highest rate for nearly seven years according to the Land Registry for England and Wales.

Prices increased by 8.4 per cent in the year to August, the fastest rate since September 2007 and up from 7.5 per cent the month before.

The Nationwide and the Office for National Statistics have both released figures recently indicating that prices across the UK are continuing to move upwards.

However, research among estate agents published today and recent evidence from surveyors both suggest the market may be reaching a plateau.