UK housing market rebounds with 4.3% rise

According to Halifax, the average UK home price increased by 4.3% in August, reaching £292,505, the highest since August 2022. Amanda Bryden, head of mortgages at Halifax, commented: “Recent price rises build on a largely positive summer for the UK housing market. Prospective homebuyers are feeling more confident thanks to easing interest rates. Such has been the resilience of house prices that the average property is now just £1,000 shy of the record high set in June 2022”. Despite this growth, London saw only a 1.5% increase year-on-year, with the average property now costing £536,056.

BBC News (06/09/2024)   Financial Times (06/09/2024)   The Daily Telegraph (06/09/2024)   The Guardian (06/09/2024)