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UK house prices climb 5% year-on-year, averaging £293,399 in September
Posted on October 8, 2024 |
The Halifax House Price Index indicates a 0.3% increase in house prices for September, continuing a trend of growth for the third month in a row.
The average property price in the UK reached £293,399, reflecting a 0.3% rise from the previous month.
Year-over-year, prices rose 4.7%, with a quarterly increase of 1.2%, marking the highest annual growth rate since November 2022.
This latest rise brings average prices close to the record level of £293,507 recorded in June 2022.
The annual increase in prices is influenced by the lower prices seen a year ago, while first-time buyers are still spending about £1,000 less compared to two years ago.