The average UK house price came close to reaching a record high last month as falling mortgage rates helped to boost confidence among buyers, according to Halifax.
The UK’s largest mortgage lender said the average price hit £293,399 in September, just short of the record £293,507 reached in June 2022.
Prices have now risen for three months in a row, Halifax said, as market conditions improve.
“Mortgage affordability has been easing thanks to strong wage growth and falling interest rates,” said Amanda Bryden, head of mortgages at Halifax.
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