The average house price in Britain is now more than £200,000, according to new figures released today by the Land Registry.

Quarterly statistics from the registry now show the price of the average home to be £211,453, up nine per cent on the same time last year, This is Money reports.

The news comes a day before the Bank of England's monetary policy committee meets to discuss interest rates, which experts believe will ride by 0.25 per cent.

Yesterday Milan Khatri, of the Royal Institute of Chartered Surveyors, called for a rate rise on the grounds that the housing market had clearly not been slowed by the August rate rise, a view vindicated by today's figures.

However, some have expressed concern at the effects of a rate rise on homeowners heavily burdened with borrowing.

Kath Park, an economics lecturer at the University of Central Lancashire, told the Lancashire Evening Post "even a 0.25 per cent increase can hit people hard".

If a rise in house prices affects you and your current credit commitments, check your credit report and ensure you're up to date.




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