HOUSE PRICES BACK ON THE RISE FOR FIRST TIME IN SIX MONTHS, HALIFAX SAYS The steepest falls came in the southeast where prices declined 6% over the year
After six months of falls house prices across the country are on the rise again, according to analysis from part of the UK’s biggest mortgage lender.
Last month, for the first time since March, the cost of buying a house increased as the number of properties on the market shrunk, according to the Halifax house price index.
Despite a rise of 1.1% in October, following a 0.3% fall in September, prices are still lower than a year ago.
The increases meant the average house was sold for roughly £3,000 more than the month before at £281,974 compared to £291,248 in the same month last year.
Halifax is owned by the Lloyds Banking Group, the UK’s largest mortgage provider.
The steepest falls came in the southeast of the UK where prices declined 6% over the year to an average of £374,066.
Tuesday’s data echoes the finding of the Nationwide house price index published last week, which also showed a surprise rise in selling figures.