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With the expensive nature of buying a new home in the UK, an immediate switch of energy supplier may be one way to drive down costs from day one.

Paul Holmes, chief executive officer at Firstung, is at a loss to explain the current rise in house prices.

Homes in London seem particularly attractive, with the LSL Property Services/Acadametrics House Price Index noting a 22 per cent surge in deals completed during August.

"The pound is still quite weak, I can't really figure out why the London market is still immune to falls both in values and transactions," states Mr Holmes.

As the cost of moving home is so high and the economy in such a fragile state, it may be more important than ever to compare electricity costs in order to secure the cheapest deal.

The index also revealed year-on-year house price growth at the end of August was standing at 7.7 per cent.

Posted by Anne Yevel 

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