UK house prices rising

The latest figures from the Land Registry show that house prices in the UK are rising.

Average prices were up just 0.3% since July but the annual increase is close to 7%. The average property value in England and Wales is now £167,423. As expected London led the way with an annual increase of over 11%.

Henry Pryor is an independent property expert and he says there is a gap between the asking price of houses and the amount they are actually being sold for.