Inflation may be virtually zero but property prices seemed oblivious to that as they surged to an annual increase of 7.9% in January. In London the story was even better as prices shot up by 10.8%, and the South-East outside London did even better with a whopping 11.7% rise. This is in stark contrast to consumer prices, which rose by only 0.3% in February. The cheapest properties in England remain in the North East, with the average home costing £156,000.

UK house prices are surging by 8% as home counties’ property market soars – ONS – This is Money