2 charts that show UK house prices are approaching warp speed

House prices have hit a fresh record high in the UK, and that may give some fresh cause for concern about the state of Britain's property market.

Bank of England governor Mark Carney recently pledged not to allow house prices to reach "warp speed" as they continue to rocket - especially in London.

They've risen by 5.5 per cent in the year to November, according to the Office for National Statistics.

House prices are at a new high

Tight planning rules are keeping supply bottlenecked, while interventions like Help to Buy and the Funding for Lending scheme have increased demand.

As builders can't easily respond to rising prices, property values continue to rise in order to ration the very limited housing stock available.

That's why it's a good thing that the Funding for Lending Scheme mortgage incentives have been removed - but why Help to Buy hasn't also been scrapped remains a mystery.

They're rising everywhere - not just London

Many suggest that the property problem only exists in London - and while it clearly has the most dramatic surge - prices are now rising across the whole country.