House prices increased by 4.7 percent year on year in September, representing the fastest growth in three years.

According to ONS data, average house prices hit a new high of £245,000 across the UK, while in London the average was also a record high of £496,000.

The price of detached properties increased by 6.2 percent year on year, as buyers covert outdoor space after lockdowns. Flats and maisonettes had a more modest increase of two percent.

The...