UK house prices climb 5% year-on-year, averaging £293,399 in September

Posted on October 8, 2024   |  

The Halifax House Price Index indicates a 0.3% increase in house prices for September, continuing a trend of growth for the third month in a row.

The average property price in the UK reached £293,399, reflecting a 0.3% rise from the previous month.

Year-over-year, prices rose 4.7%, with a quarterly increase of 1.2%, marking the highest annual growth rate since November 2022.

This latest rise brings average prices close to the record level of £293,507 recorded in June 2022.

The annual increase in prices is influenced by the lower prices seen a year ago, while first-time buyers are still spending about £1,000 less compared to two years ago.