UK House Prices Near Record After BOE Rate Cut, Halifax Says
- Prices rise 0.3% in August, the second straight increase
- Data add to optimism over stronger autumn for housing market
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UK house prices came within a whisker of a record high, climbing for a second straight month after the Bank of England cut interest rates, data from Halifax showed.
The mortgage lending giant said the average price of a typical UK home rose 0.3% last month to £292,505 ($385,450) after an upwardly revised 0.9% gain in July. This is now just £1,000 short of the peak reached in June 2022.