UK Housing Prices Reach New Record High

House prices in the United Kingdom recorded a huge rise last month, reaching a new record level, according to data by IHS Markit.

The Halifax House Price Index increased by 5.2% in August on an annual basis.

This is the largest rise for the house-pricing index since late 2016.

The price of the average house in the UK reached GBP 245,747 ($324,241), exceeding GBP 245,000 for the first time ever.