Average UK house price rises by £25,000 in a year

Cost of a home climbed in every region in 12 months to August, with prices in London rising to 526,000

The average cost of a UK home increased by 25,000 in the 12 months to August, official figures show, with rises recorded in all regions.

The annual rate of price inflation hit 10.6% during the month, up from 8.5% in July, the Office for National Statistics said, bringing the average price to 264,000.