Published On Nov 7, 2024, 3:39 AM
The average UK house price has reached a new record high of £293,999 in October, according to Halifax. Prices have been rising modestly, up 3.9% compared to last year, though growth has slowed from previous months. Despite warnings of sustained high mortgage rates and the potential for slower cuts to interest rates, Halifax suggests a continued modest increase in property values is likely over the coming months.
Positive
The increase in house prices suggests a robust demand in the UK housing market, which may benefit related sectors such as home construction and real estate investment trusts (REITs). While there are concerns about high mortgage costs, the overall trend indicates continued investment opportunities in the housing sector.
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