UK House Prices Surges to Record High, Over £270,000 For The First Time

Source: Halifax

UK property prices have surged to a record high of £270,027 as buyers continue to look for space. FTSE 100 up +0.64%, GBP USD down -0.38%

• The typical home price has increased by 8.1 percent in the last year since the start of the pandemic when the rises rose by £31,500.
• Halifax’s index stated that the value of the average property expanded by 0.9% between September and October, an increase of over £2,500.
• Russell Galley, Managing Director, Halifax, stated that the key drivers of activity in the housing market over the last 18 months have been rising significantly with buyers looking for larger properties.
• Wales recorded the highest increases in prices. It posted an annual house price increase of 12.9% in the year to October, pushing the cost of the home up to £198,880.
• Northern Ireland recorded its strongest growth in four months at 11.3%, with an average house price of £169,308.
• House prices will also continue to increase in Scotland, with the average property prices surging up 8.6% year on year to an average of £190,023.