(Alliance News) - UK house prices rose for the third consecutive month, according to data from Halifax on Friday.
The Halifax house price index rose 1.1% on a monthly basis in December, after rising 0.6% in November.
The typical UK home cost GBP287,105 in December, around GBP3,066 higher than in November. This was the highest level seen since March 2023.
On an annual basis, prices rose 1.7%, having fallen 0.8% in November.
"The average property price is now GBP4,800 higher than it was in December 2022. Whilst it's encouraging that we saw growth in the last three months of the year, this was preceded with property price falls for six consecutive months between April and September," noted Halifax Mortgages director Kim Kinnaird.
"The growth we have seen is likely being driven by a shortage of properties on the market, rather than the strength of buyer demand. That said, with mortgage rates continuing to ease, we may see an increase in confidence from buyers over the coming months."
By Elizabeth Winter, Alliance News deputy news editor
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