According to a new report, the asking price for properties in the UK recorded its highest increase during the December-January period.

Rightmove, a leading property website said on Monday, said that the prices are rising significantly in the country raising concerns over a property bubble in the UK.  The report showed that price of properties coming on to the market increased 1 per cent between December 9 and January 11, which is its highest gain since 2002.

The increase in asking prices comes at a time period, in which the prices have been falling during the previous 10 years.  As for the annual growth, the prices rose 6.3 percent, which is highest since November 2007 and more than three times the rate of inflation in the country.  UK property prices have been rising faster than most European markets.

According to a new report on UK's property market, the property prices in the country are expected to rise by around 7 per cent during the coming year.  The new report by the Royal Institution of Chartered Surveyors (RICS) predicted that the price of homes will increase in the country as the supply of homes will not be enough to meet the rising demand in the UK.  The report also said that the rents are expected to rise by around 2 per cent during the next one year due to lesser number of homes available in the market.