According to Halifax, in October 2025, house prices in the UK increased by 0.6% compared to the previous month, bringing the average cost of apartments and houses in the country to a record high of 299,862 pounds. This is the fastest monthly growth since January of this year.
The rise in prices in October came after an unexpected 0.3% drop recorded in September, and exceeded economists' forecasts.
Year-on-year, housing prices increased by 1.9%, which also exceeded the forecast growth rate.
The price increase in October suggests that buyers are willing to turn a blind eye to concerns about possible tax increases in Rachel Reeves' budget, which will be presented on November 26.In August, The Guardian reported that the Finance minister was considering replacing stamp duty with a new tax on the sale of homes worth more than 500,000 pounds.
According to Amanda Bryden, head of mortgage lending at Halifax, despite the fact that average fixed mortgage rates are still around 4% and are likely to decline further in the coming months, record high property prices are still driving many potential home buyers.sweat it out.
Source: The Guardian
