Halifax: UK House Prices Surge Ahead of Tax Deadline

In January, UK house prices hit a new average record of almost £300,000, increasing by 0.7% compared to the previous month, according to Halifax. Halifax reported a slowdown in the annual growth of house prices to 3%, the lowest rate since July 2024. The Bank of England reduced interest rates to their lowest level since mid-June 2023, impacting buyer demand and mortgage affordability.