Office for National Statistics says that the cost of housing in the UK has reached the record level, according to ee24.com citing themovechannel.com.
The average price of residential property (house or apartment) is £247,000 (€292,000) and it is the highest figure since 1968, when the national housing price index was calculated for the first time.
Prices are rising in three of four UK countries - England, Wales and Northern Ireland, but are still declining in Scotland. However, Halifax experts predict that the upcoming emergence of many residential properties in the market will slow the prices increase.