UK House Prices Jump Most in Over Two Years, Halifax Says
- Average prices rise 1.3% in November to hit new record high
- Strong labor market and BOE interest-rate cut support market
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UK house prices soared by the most in over two years after an end to budget uncertainty, an interest-rate cut and low unemployment boosted buyer demand, according to one of the country’s biggest mortgage lenders.
Halifax said the average home price rose 1.3% to a new record high of £298,083 ($379,830), the fifth consecutive monthly gain and the biggest increase since June 2022. Prices were 4.8% higher than a year earlier.