The value of the UK property market in terms of gold has increased by 70% over the last three years, according to research by Home.co.uk.

The firm found that, at the current price of gold, the average UK home would cost 350 troy ounces (around 11kg). This is a massive increase on the 207 troy ounces (6kg) that would have been needed to buy the average home in November 2011.

Chief causes are strong UK property growth and a steady decline in the value of gold since 2011, when the precious metal’s price spiked in the wake of the financial crisis.

But not every region is sharing the capital’s property price hikes. Since May, asking prices have fallen by 0.9% in the North East and have remained static in Wales, the North West and Scotland the firm reports.