The Guardian notes comments by Miles Shipside, director of online estate agency Rightmove, who was speaking after the publication of its latest property index. He said a combination of "high demand, lack of suitable supply, and increasingly stretched affordability are leading to some extremes in market forces in different sectors and parts of the country".

Citing the report's finding that the number of sellers had declined by 7.1 per cent in the south and by 4.9 per cent in the north compared to a year ago, he explained that prices were only rising in the already expensive south – and especially for desirable family homes sought by existing homeowners. By contrast, in northern areas where prices are lower and property generally more affordable, prices were found to be falling in many cases.

Rightmove says the average UK house price rose at the fastest rate in 13 years in August, reaching £295,000 – and remaining on course to hit £300,000 before the end of the year. While this valuation is far in excess of those quoted by Nationwide, Halifax and the Land Registry, all are recording a similar trend and record highs.

The report said the already "property rich" are gaining most from increased confidence on the housing market, with higher demand fuelled by record low mortgage rates pushing up prices in the most expensive counties and for family homes. On the other hand the exclusion of many younger prospective buyers who are struggling to raise deposits is reducing demand for smaller starter homes and bringing down prices.

This is a relatively new trend, however, and follows months of increases at the entry level of the market. A separate report in the Financial Times, based on a study by Shelter, points to a rise of around three per cent in the average UK house – this time concentrated in lower price areas – resulting from the Help to Buy scheme, which has helped 120,000 buyers with smaller deposits to get on the housing ladder. The scheme has added £8,250 to the average house price, with prices in north-west Leicestershire rising £19,000 and in Tyneside by £13,000.

House price 'action' now outside London  

"Good news for Britons trying to get a foot on the UK's housing ladder", says the Financial Times, as it reports house price growth "took a step back in July, recording the slowest rate of growth since September 2013".

However, while that comparison sounds like a major boon for younger buyers who have been increasingly priced out of housing, The Guardian argues the Office for National Statistics figures will "spark fresh concern about housing affordability".

Annual price growth across the UK fell from 5.7 per cent to 5.2 per cent for the year to July, but this remains double the 2.5 per cent wage growth for the quarter to July official data are expected to reveal this week.

Various indices show valuations going up to a greater or lesser degree each month, but are unanimous that prices are inexorably rising and that most areas of the UK - outside Northern Ireland, which is recovering from a housing market crash that also hit its southern neighbour - are showing values at record levels.

This is causing problems for first-time buyers despite low mortgage rates increasing the affordability of monthly repayments, explains Savills' Neil Hudson in The Guardian, because of the hefty deposits that are prohibitive, or at least inhibiting, for many.

The latest data point to regional disparities, not least that the housing market "action" is now outside of the UK, the BBC reports. It says prices in the Capital rose by 5.5 per cent, below the wider England average of 5.6 per cent, while the east and south-east of the country saw increases of 8.3 per cent and 6.7 per cent.

Only two areas, Scotland and the north-east of England, saw prices fall. The average price paid in the UK was £282,000, with the highest in London - £562,000 - and the lowest in the north-east - £156,000.

www.theweek.co.uk/