House prices across the UK are increasing at their fastest rate since February, according to mortgage lender Halifax.
In the year to October prices rose by 4.5 percent, up from a previous level of 4 percent in September. The latest figure puts the average UK house price at a record high of £225,826, with Halifax saying prices were likely to continue to stay at this level, supported by cheap mortgages and high employment rates.
However according to the lender’s figures, consumer confidence dropped over the same period to hit its lowest level since 2012.
Halifax’s figures showing impressive house price growth have contrasted with those of other similar lenders, many of which predict a much slower rate of growth. Nationwide put quarter-on-quarter growth at just 0.8 percent, compared to Halifax’s figure of 2.3 percent.
