UK house prices rise again but Halifax forecasts up to 4% drop in 2024

Growth rates driven by shortage of properties on market, says mortgage lender, with typical home worth 287,105

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UK house prices rose for a third consecutive month in December amid a shortage of properties on the market, but are forecast to drop this year, according to Halifax.

Britain's biggest mortgage lender, which this week joined in new year rate cutting, said that property prices grew by 1.1% in December, after a 0.6% rise in November and a 1.2% increase in October. A typical home in the UK is now worth 287,105, about 3,000 more than in November.