House prices rising in the UK year-on-year

House sellers and estate agents around the UK have been given good news at last, with the report from the Office for National Statistics (ONS) saying that prices have risen in the last year.

The governmental department figures have shown that the average value of a house across the country has risen by 2.3 per cent over the last year.

This comes in spite of news from Nationwide and the Land Registry reporting poor outcomes so far in 2012.

Much of the increase in prices has been credited to better than average prices in the likes of the South West and South East, where sales were being completed at 2.3 per cent and 2.2 per cent higher than last year respectively.

It was also recently reported by AdZunda that the most expensive town in the whole of the UK is now Guildford, where the average home costs seven times a couple's yearly earnings.