Monday December 11, 08:45 AM

LONDON (ShareCast) - UK house prices are continuing to rocket, according to the latest survey that showed asking prices over the last few weeks rose at their fastest pace for more than two years.

Property website Rightmove (LSE: RMV.L - news) said the average asking price between November 12 and December 2 was 13% higher than a year earlier, the fastest pace since October 2004.

Rightmove said the figures are not seasonally adjusted and on a month-on-month basis asking prices actually slipped 0.3% as some sellers looked for a quick Christmas sale.

"The strength of the housing market in 2006 has exceeded everyone's expectations and we've seen further growth this autumn which is only slowing down now that Christmas is on the horizon," said commercial director Miles Shipside.

The continuing boom in prices was again led by the Capital with the cost of a home in London up 23.6% on a year earlier.

Rightmove added that average national asking prices will rise just 6% in 2007.

Source: http://uk.biz.yahoo.com/11122006/214/house-prices-rising-fast.html