House prices set for modest growth

Halifax anticipates "modest house price growth" in 2025, following a slight dip of 0.2% in December after five months of increases. The average UK house price now stands at £297,166, reflecting a 3.3% annual rise. In London, they rose 3.3% to £547,614. Amanda Bryden, head of mortgages at Halifax, noted that the housing market remained steady at the start of 2024, with growth expected to resume in the summer. Changes to stamp duty, reducing the nil rate band for first-time buyers, are expected to motivate more buyers. 

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