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First-time Buyers Left Stranded As House Prices Rise By 11% - The Times Oct 06

Double digit house price inflation has returned with a vengeance as asking prices hit a new high, according to figures published today.

Data from Rightmove, the property website, shows that the strength of the housing markethas defied the predictions of almost all economists this year.

First time buyers will have to wait even longer to get on the housing ladder. Rightmove's figures showed that prices increased by 115 per cent over the past 12 months and are up by 2 per cent in the past month alone.

Last week the Royal Institute of Chartered Surveyors reported that gazumping was taking place in London once again, as city workers cashed in on the prospect of fat bonuses this Christmas. They said  that prices were rising even faster than at the peak of the previous boom in 2003.