{"id":169849,"date":"2024-11-07T08:41:14","date_gmt":"2024-11-07T08:41:14","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/07\/house-prices-hit-record-high-says-halifax\/"},"modified":"2024-11-07T08:41:15","modified_gmt":"2024-11-07T08:41:15","slug":"house-prices-hit-record-high-says-halifax","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/07\/house-prices-hit-record-high-says-halifax\/","title":{"rendered":"House prices hit record high, says Halifax"},"content":{"rendered":"
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The average UK house price reached a record high last month, according to Halifax.<\/p>\n

The UK’s largest mortgage lender said the average price hit \u00a3293,999 in October, surpassing a peak of \u00a3293,507 that was reached in June 2022.<\/p>\n

Halifax said it expected prices to continue to rise at a “modest pace” for the next few months.<\/p>\n

However, it warned that mortgage costs could remain “higher for longer” following last week’s Budget.<\/p>\n<\/div>\n

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Following the Budget, which included plans to borrow and spend billions of pounds, financial markets expect the Bank of England to cut rates more slowly than previously anticipated.<\/p>\n

However, the Bank is still expected to cut its key rate to 4.75% from 5% later on Thursday.<\/p>\n

Halifax said house prices edged up by 0.2% in October, meaning property values have now increased for four months in a row.<\/p>\n

House prices are up 3.9% from a year earlier, Halifax said, which is a slight decrease from the 4.6% annual increase seen in September.<\/p>\n

Commenting on the new record high, Amanda Bryden, head of mortgages at Halifax, said: \u201cThat 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\u2019t fall very far in the first place.<\/p>\n

“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.”<\/p>\n<\/div>\n


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The average UK house price reached a record high last month, according to Halifax. The UK’s largest mortgage lender said the average price hit \u00a3293,999 in October, surpassing a peak of \u00a3293,507 that was reached in June 2022. Halifax said it expected prices to continue to rise at a “modest pace” for the next few […]<\/p>\n","protected":false},"author":2,"featured_media":169850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/446f\/live\/6e4c50f0-9cdf-11ef-8629-b5d30e3b62c1.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[45819,437,1028,79,2364,1541],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/169849"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=169849"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/169849\/revisions"}],"predecessor-version":[{"id":169851,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/169849\/revisions\/169851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/169850"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=169849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=169849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=169849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}