Average house prices in the UK increased by 8.3% in the year to July 2016, continuing the strong growth seen since the end of 2013. The average UK house price was £217,000 in July 2016. This is £17,000 higher than in July 2015.

The East of England is the region which showed the highest annual growth, with prices increasing by 13.2% in the year to July 2016. Growth in London remains high at 12.3%, followed by the South East with an 11.9% annual growth.

Andrew Bridges, MD at Stirling Ackroyd, says of the ONS figures: “London’s house prices jumped by 1% in July, defying Brexit uncertainty in the immediate aftermath of the referendum. House prices in Newham have increased by more than 20% in the last year. Those working in the capital are now looking to the East and South East of England for more affordable homes, which is why these areas are also seeing double digit growth.

“Rising prices are being fuelled by the ongoing shortfall of properties on the market - there are simply not enough people selling or enough new homes being built to match demand.”