Real Estate
UK House Prices Up for First Time in Months, Halifax Says
- Lack of houses for sale lifts valuations as transactions stall
- Mortgage rates also beginning to ease as BOE pauses hikes
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UK house prices rose for the first time in seven months after a lack of properties for sale bolstered the value of the places that did change hands, a major mortgage lender said.
Halifax said property prices rose 1.1% in October to £281,974 ($347,350), which was also the biggest increase since February 2023. It confirmed a separate report last week from Nationwide Building Society, which also said prices rose last month, and bucked the trend toward weaker prices for much of this year.