UK house prices see 4.7% annual rise, highest since November 2022

Steady market improvement boosted by wage growth and easing rates, finance firm reports

By Gokhan Ergocun

ISTANBUL (AA) - House prices in the UK rose by 4.7% year-on-year in September, marking the highest annual increase since November 2022, finance firm Halifax announced Monday.

On a monthly basis, prices edged up by 0.3% in September, with the average property price reaching £293,399 ($384,500), up from £292,540 in August and the highest level since June 2022.

"Northern Ireland continues to record the strongest annual house price growth in the UK," Halifax noted in its press release.

The firm attributed the market's steady improvement over the summer and into early autumn to increased mortgage affordability, driven by strong wage growth and declining interest rates.

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