House price rises to continue into 2025, says Halifax

Published On Dec 6, 2024, 5:46 AM

In November, UK house prices soared by 1.3% compared to October, marking the fifth consecutive monthly increase and bringing the average property value to a record £298,083. This growth is attributed to heightened demand from buyers and easing mortgage rates that have increased buyer confidence. The annual increase of 4.8% is the highest in two years. However, potential buyers still grapple with affordability challenges, and there might be a future slowdown in the market as buyers may opt for cheaper homes post-April due to imminent changes in stamp duty.