UK house prices jump to new high as stamp duty rise looms, says Halifax

Halifax says: ‘Affordability is still a challenge for many would-be buyers, but the market’s resilience is noteworthy.’ Photograph: Henry Nicholls/Reuters

UK house prices bounced upwards in January to a record high as many buyers rushed to complete deals before a stamp duty increase this spring, according to one of the UK’s biggest mortgage lenders.

The average property price rose by 0.7% in January to £299,138 after dropping 0.2% in December, Halifax said.