Home prices have surged to record levels in the UK, as a wave of young people and first-time buyers have found their way into the market.
Here’s what you need to know about the latest figures.
Home prices in the country rose 5.1% year on year in July, according to data from Nationwide.
But the figures show that the overall rate of inflation, which measures prices for the average price of a home, remained at around 2.5%.
The inflation rate has risen steadily in the past two years, driven by the cost of fuel and house prices, which have risen over time.
A recent report by Nationwide suggested that the average monthly salary in the United Kingdom has increased by just over £100 since 2009.
However, there are many factors that influence home prices.
Many of the biggest factors in rising house prices are driven by globalisation, as well as factors that can affect prices in a country, such as the impact of terrorism and the financial crisis.
“There are many things that influence house prices that are global in nature,” said David Taylor, an economist at Markit.
“The rise in foreign direct investment, and the decline in UK house prices in recent years, have contributed to the rise in the average cost of living.”
In many countries, people who want to buy a home are often able to afford it because they can save.
However in the British capital, a rise in inflation has forced many to look elsewhere.
The average UK household is currently paying an average of £1,400 a month more than a year ago, and it is forecast to rise further this year, as higher rents and house price inflation push people out of the market, according the latest Nationwide survey.
However house prices continue to increase in other parts of the country.
Nationwide data shows that in the south west of England, where many of the new houses have been built, the average house price rose by 5.3% to £1.7m in July.
In the east, the figure was up 4.4% to an average house value of £932,879.
Nationwide also found that prices in England and Wales rose by 3.3%, while in Wales, the figures were down 1.9%.
Nationwide said that there is a “huge” gap between what people are paying for a home and what it costs to live there.
However the survey also showed that people in Scotland are paying more than average, and Londoners are paying higher prices than people in other major cities in the capital.
“People living in London are paying a higher amount for a house than people living in the rest of the UK,” said Andrew Jones, managing director of Nationwide.
“We have been seeing that in England, Wales and Scotland in recent months.”
Mr Jones said that the rising price of houses in England has been driven by a shortage of homes in London.
However it is not just the UK where house prices have been rising.
In Canada, house prices rose for the first time in over a year in June, with the price of homes increasing by 9.4%.
The national average price is $1.8 million, up 8.6% on the same month last year.
In February, Canada saw a record-breaking 3.2 million home sales, with prices up more than 12% from a year earlier.
The country also saw a large increase in the number of properties listed for sale, with 6.3 million homes being listed for a total of 6.4 million homes.
The US also saw its first record-setting home sales in almost two years in June.
The number of homes for sale rose by 9% to 2.4 billion, as demand from overseas buyers surged.
However prices in Canada and the US have remained largely flat since mid-2015, and there is little sign of a recovery in the US market.
There has been some improvement in the Canadian market, however.
The price of detached houses has also risen since the summer, but there has been no significant improvement in prices in detached houses in Canada.
Nationwide’s latest figures show prices in Australia have fallen by 3% in July to $1,500 per square metre.
Prices in Queensland also fell in July for the fourth month in a row, while prices in New South Wales have dropped by 1.6%.
However, prices are still rising in many other parts.
Nationwide said prices in many parts of Britain have risen by 6.2% over the past 12 months, while they have fallen in some other parts by more than 20%.
Nationwide’s survey also shows that prices are rising in the South East, which has been hit hard by the impact on the housing market.
The survey found that average prices for a property in London were up by 6% over June, while average prices in South East England were up more 4.6%, according to Nationwide.
The report also showed the impact