House prices in UK treble

House prices across the UK have almost trebled since the property market recovery of mid 1990s, according to new research.

Figures from Halifax showed that the average house price has risen 187% from £62,453 (€49,000) in the first quarter of 1996 to £179,425 (€140,900) in 2006's third quarter - an average increase of 10.6% a year.