For Sale signs in London
Media playback is unsupported on your device
Video

UK house prices surpass 2007 peak, says Nationwide

UK house prices have risen above their peak of 2007 - after they climbed 1% in June, and were up 11.8% from a year earlier.

The figures, from the Nationwide, show the average value of a UK property is now almost £189,000 - though in London it has topped £400,000 for the first time.

Our economics correspondent Simon Jack reports.

Go to next video: Simon Gompertz on house price 'boom'