London house prices rose staggering 19.1% in 12 months

Six regions of the UK have seen house prices rise to levels never seen before, according to new data from the Office for National Statistics.

The East Midlands, West Midlands, South West of England, London, the East of England and the South East of England have all past their pre-recessionary peaks of 2007/08.   

The largest rise over the 12 months to the end of July was seen in London, where average house prices have risen above £500,000 and an astonishing surge in prices saw values rocket by 19.1%.

Prices accelerated in June, but July saw the fastest uptick in values, with the average London home accumulating an additional £15,000 in worth in that month alone.

But excluding London and the South East, UK house prices increased by 7.9%.

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