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House prices in the U.K. are now so high that a third of British people they will never their own home. This is according to a new report by the Halifax Bank. Home ownership was once an achievable goal for generations of Britons. However, prices now mean the prospects of on the property ladder are on the decline. The report says that one in five twentysomethings has no desire to their own home. Craig McKinlay, mortgages director at Halifax, said: "We may be towards the point where the aspiration to own a nice home will be by the aspiration to simply in one." He added: "It seems that people are now to accept a lifetime of renting."

Britain's Office for National Statistics earlier this week that house prices have by 10.5% in the past year. It expressed concern at what it describes as "runaway train" house prices. The average U.K. house was at $425,000 in 2013. Things bleaker for house hunters to buy in London. Prices in the capital have risen by 18 per cent in a year to an average of $610,000. The Halifax report writes about possible long-term social problems from, "the division between homeowners and non-homeowners". The report that if there are fewer first-time buyers, "the market will to a standstill". If this , prices will have to down.