House prices surge in 2013

The Nationwide Building society has released statistics showing a general rise in house prices in the UK of 8.4% for 2013, with December showing a gain of 1.4%.

London property stock has led the way with an increase for the year of around 14.9%, the average price of a London house now £345,000, with prices in the North up by a more modest 1.9%.

There are more share-buy schemes available, including the Government's, that helps first timers get on the property ladder with a deposit of only 5% as opposed to the standard 20% seen in recent years. The fear is however, that we are seeing the start of a property price bubble that might make the typical starter home unaffordable to those looking to buy them.