House price rises are running at nearly seven per cent year on year, according to the latest survey of the sector.

Assetz House Price Watch analyses all the other major UK house price indices, claiming to produce a total overview of market activity.

The six major UK house price indices show an average of 6.74 per cent annualised growth for the 12 months to June, a 0.22 per cent increase on that to May and a 2.51 per cent jump from the beginning of the year.

Assetz said the market was continuing to show positive growth, but this was now starting to slow. It said London had been leading the upward movement but price rises were set to taper off as affordability in the capital reached a ceiling as a result of rising household bills and static wage inflation, combined with the effect of the traditionally quiet summer.