By Daniel Hunter

House prices in England have reached a record high, according to the latest figures from the Office for National Statistics.

The average price of a home now stands at £255,000 in England, £182,000 in Scotland, £160,000 in Wales and £132,000 in Northern Ireland.

The house price index for England is now almost 10% higher than it was at the previous peak in January 2008 with the rest of the UK following closely behind.

London and the South East lead the way where prices are rising faster than inflation; however prices are falling in Scotland, Wales and Northern England.

Other findings suggest that the UK is still a long way from another house price boom, with figures from the Land Registry indicating the market is well below its peak of November 2007.

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