Average house prices in England and Wales climbed 2.9 per cent in the first half of the year and show no signs of slowing down, says new Hometrack research.

Property increased 0.06 per cent during June alone said the survey, with London spearheading the increases.

Average prices in the capital were up 1.1 per cent during the month, almost twice the national average.

"Looking back over the first six months of the year there is a stark difference in performance between London and the rest of the country," said Richard Donnell, Hometrack director of research.

"The major imbalance between supply and demand in London has caused prices to rise by almost six per cent whilst growth in four regions has been less than one per cent.

"The differentials in growth reflect the fact that the London housing market significantly under-performed the rest of the market between 2001 and mid-2005."

If a rise in house prices affects you and your current credit commitments, check your credit report and ensure you're up to date.




Next :  Credit cards celebrate 40th birthday