ONS: UK house prices still rising

<p>House prices are still rising in the UK.</p>

New data from the Office for National Statistics (ONS) has revealed house prices in the UK are still improving.

Figures released by the ONS today (August 13th) showed prices in the year to June rose by 3.1 per cent, compared to a 2.9 per cent figure that was recorded in the previous month.

However, property values in London are still propping up the UK's average as a whole, as the cost of a house in the capital is now over eight per cent higher than it was a year ago.

The Royal Institution of Chartered Surveyors noted that average house prices are currently growing at a faster pace than at any time since before the start of the recession.

Peter Bolton King, global residential director for the organisation, stated "this is the first time that everywhere has experienced some improvement", although he pointed out some parts of the country have been seeing growth in buyer numbers and prices since the beginning of the year.

The health of the property market is good news for the economy in the UK, which grew by 0.6 per cent in the second quarter of the year.

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