The average UK house price in September was £293,399, just £108 short of a record high, highlighting a significant recovery in the housing market.
Halifax reports a 4.7% year-on-year rise in house prices, marking the fastest growth pace since November 2022, indicating an ongoing demand in the market.
First-time buyers have seen property prices rise by 4.2% over the last year, with typical prices reaching £232,769, the highest since May 2024.
Amanda Bryden from Halifax emphasizes that the recent price increases are part of a recovery rather than an outright boom, as market conditions have improved.
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