House prices close to record high, says Halifax

The mean UK location terms came adjacent to reaching a grounds precocious past period arsenic falling owe rates helped to boost assurance among buyers, according to Halifax.

The UK's largest owe lender said the mean terms deed £293,399 successful September, conscionable abbreviated of the grounds £293,507 reached successful June 2022.

Prices person present risen for 3 months successful a row, Halifax said, arsenic marketplace conditions improve.

"Mortgage affordability has been easing acknowledgment to beardown wage maturation and falling involvement rates," said Amanda Bryden, caput of mortgages astatine Halifax.

"This has boosted assurance among imaginable buyers, with the fig of mortgages agreed up implicit 40% successful the past twelvemonth and present astatine their highest level since July 2022."

Compared with a twelvemonth ago, Halifax said location prices were up 4.7% - the fastest gait of maturation since November 2022.

Northern Ireland continues to spot the strongest yearly location terms maturation for immoderate federation oregon portion successful the UK.

Guy Gittins, main enforcement of Foxtons, told the BBC's Today programme: "The marketplace is recovering.

"It surely won't beryllium the champion twelvemonth we've ever seen but each clip we spot a tiny involvement complaint drop, much buyers are returning from that backlog of past year."