UK Property Prices See Highest Rise Since 2002

The average UK property price has seen its highest monthly rise since 2002. The average home in London was worth nearly twice the national average at £449,252, enhanced by demand from overseas buyers.

The 4.1% month-on-month increase took the typical asking price of a home on the market to £233,252, according to Rightmove who looked at 90% of the UK property market between January 8 and February 11.

Miles Shipside of Rightmove commented."Confidence in bricks and mortar in the capital seems set to continue, with 'seller-power' twice as strong in London compared to the rest of the U.K.Upwards price- pressure is likely to be maintained in 2012."

UK House Prices