Overview
- Prices rose 0.6% in October, the biggest monthly increase since January, taking annual growth to 1.9%, Halifax reported.
- Halifax said buyer interest held up into autumn, with newly approved mortgages reaching their highest level of the year.
- The Bank of England kept the base rate at 4%, and many lenders have trimmed fixed-rate offers in response to swap-rate moves.
- Halifax cautioned that affordability remains tight, with average fixed mortgage rates around 4% and household budgets pressured by living costs.
- Regional trends diverged, with London down 0.3% year on year while Northern Ireland rose 8.0% and Scotland increased 4.4%.