{"id":19733,"date":"2024-10-08T11:08:14","date_gmt":"2024-10-08T10:08:14","guid":{"rendered":"https:\/\/www.ipglobal-ltd.com\/?post_type=insights&p=19733"},"modified":"2024-10-08T11:08:35","modified_gmt":"2024-10-08T10:08:35","slug":"uk-house-prices-near-record-high","status":"publish","type":"insights","link":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/insights\/uk-house-prices-near-record-high\/","title":{"rendered":"UK House Prices Near Record High"},"content":{"rendered":"
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Image by\u00a0Mathias Westermann<\/a>\u00a0from\u00a0Pixabay<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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UK house prices nearly hit a record high in September, with the average price hitting \u00a3293,399, just shy of the June 2022 record of \u00a3293,507, according to Halifax. The UK's largest mortgage lender, Halifax, reported that prices have now risen for three consecutive months as market conditions improve.<\/p>\n

Falling mortgage rates and strong wage growth have helped ease mortgage affordability, allowing buyers to secure larger loans. Amanda Bryden, head of mortgages at Halifax, said, \"This reduction in rates has enabled buyers to make previously unaffordable properties more attainable, boosting buyer confidence.\"<\/p>\n

The typical first-time buyer now purchases a property priced at \u00a3232,769, the highest since May. However, this is still around \u00a31,000 less than what first-time buyers were paying two years ago.<\/p>\n

Halifax\u2019s data, based on its mortgage lending, excludes cash buyers and buy-to-let deals, which account for about a third of property sales. The number of mortgage agreements has risen over 40% in the past year, reaching its highest level since July 2022.<\/p>\n

House prices are up 4.7% compared to last year, the fastest growth since November 2022. This reflects a rebound from the market\u2019s weakness a year ago, with the average property gaining about \u00a313,000 in value over the past year. However, over the last two years, prices have risen just 0.4%. Guy Gittins, CEO of Foxtons estate agents, noted the market is recovering, with more buyers returning as interest rates drop.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Image by\u00a0Mathias Westermann\u00a0from\u00a0Pixabay UK house prices nearly hit a record high in September, with the average price hitting \u00a3293,399, just shy of the June 2022 record of \u00a3293,507, according to Halifax. The UK's largest mortgage lender, Halifax, reported that prices have now risen for three consecutive months as market conditions improve. Falling mortgage rates and […]<\/p>","protected":false},"featured_media":19736,"parent":0,"menu_order":0,"template":"","location":[],"insights_type":[127],"series-title":[],"class_list":["post-19733","insights","type-insights","status-publish","has-post-thumbnail","hentry","insights_type-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/insights\/19733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/insights"}],"about":[{"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/types\/insights"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/media\/19736"}],"wp:attachment":[{"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=19733"}],"wp:term":[{"taxonomy":"location","embeddable":true,"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/location?post=19733"},{"taxonomy":"insights_type","embeddable":true,"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/insights_type?post=19733"},{"taxonomy":"series-title","embeddable":true,"href":"https:\/\/www.ipglobal-ltd.com\/zh-hans\/wp-json\/wp\/v2\/series-title?post=19733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}