Average UK house price hits record £298,083, says Halifax

On an annual basis, house prices are up 4.8%, the highest rate of increase since November 2022. Photograph: I Wei Huang/Shutterstock

The average price of a house in the UK has hit a record high after a fifth successive month of increases in the value of properties, Britain’s biggest mortgage lender has said.

Halifax’s monthly house price index found that the cost of an average home was £298,083 in November, up almost £5,000 on the previous record set in October.