House prices increased by 0.2% in October, the fourth monthly increase in a row, Halifax reported. The average house price was £293,999, surpassing a previous peak in June 2022. Amanda Bryden, head of mortgages, Halifax, said: “Average UK house prices nudged up 0.2% in October, continuing the positive momentum of recent months. “That house prices have reached these heights again in the current economic climate may come as a surprise to many, but perhaps more noteworthy is that they didn’t fall very far in the first place. “Despite the headwind of higher interest rates, house prices have mostly levelled off over the past two and a half years, recording a 0.2% increase overall.

Source: The Herald November 07, 2024 08:15 UTC