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Evening Standard
Evening Standard
Business
Jonathan Prynn

UK house prices climb to a new all-time high as mortgage rates fall

United Kingdom Halifax London Bank of England
Halifax said market activity has been picking up. (Ian Nicholson/PA) - (PA Wire)

Falling mortgage rates have pushed house prices to a new all time high, new figures from leading lender Halifax reveal today.

The average price of a home in the UK advanced 0.2% in October, a fourth consecutive month of growth, and at an annual rate of 3.9%. That means the average property costs £293,999, passing the previous peak of £293,507 set in June 2022 shortly before Liz Truss’s mini-Budget.

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