It is the increase in UK property prices happening across the board?

While a number of recent surveys have suggested that UK property prices continue to increase it is becoming more and more apparent that price performances in different areas of the country can differ wildly. As ever, it is the South of the UK which is seeing the largest increase in property prices although there are a number of "hotspots" in the Midlands, the North and Scotland.

The truth is that the UK property sector has always been dominated by the South of England and in particular the London market which is in many ways separate from the rest of the UK. Indeed, a number of recent reports have indicated that London property prices are back to levels not seen since the credit crunch only 2 1/2 years, which prompted a financial meltdown around the world.

The UK has for many years been a country based upon property ownership whereas other areas of the world such as America have only just seen the balance swing from renting to property ownership. As a consequence, many people in the UK are suffering enormous losses on their assets and many are now struggling to pay their mortgages and having to accept it "below market prices" for their property in order to allow them to move on.

The UK property market has always been patchy and there will be no variation on this theme in the future.