LSL Property Services have released information indicating that the 10 regions across England and Wales have seen an average 4.1% increase in house prices over the last year.
This increase means that the average property price in the UK is now around £282,816.
Conversely, there is bad news attached to this announcement as transactions have fallen behind the levels of 2013 for the first time this year following a 14% drop in the August.
In the three months leading up to July of this year, property sales have fallen 3% year-on-year. The North of England is the only region where activity has increased over that period, with sales up 3% during the period May to July 2015 compared to the same period in 2014.
The biggest drop in activity has been in East Anglia, with total property sales down 9% and sales of flats 15% lower year-on-year from May to July. This region has experienced the largest house price increase out of any region, at 5.9% in July this year.
A LSL spokesman says this contrast suggests demand is not the problem, but supply is.