If you're one of those people who are particularly sensitive to interest rate moves at the moment, now might be the time to be afraid... very afraid. Rightmove's latest house price report suggests the latest upward movement wasn't nearly enough to dampen the current surge. This month, the annual inflation rate has reached 11.5%, and prices rose 2% in the month. Rightmove's Miles Shipside comments on an interesting Catch 22:

"Supply of houses coming onto the market is dropping as prices increase, because fewer home owners can afford to trade up."

More here. Meanwhile, other news sources are choosing to focus on one specific area... Kensington & Chelsea, where the Rightmove report suggests an average house price of just under £1 million. £999,087 to be precise. Rightmove claim Chelsea's annual inflation figure has reached 65%, and Westminster's 53%.