UK house prices rise at fastest rate since January 2023

Lower mortgage rates lead to increased buyer and seller confidence, says Halifax

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UK house prices rose 2.5% in the year to January, recording the biggest increase since January last year, as lower mortgage rates and fading inflationary pressures led to increased buyer and seller confidence, Halifax has said.

January marked the fourth consecutive monthly rise, with a 1.3% uplift on December, the UK's biggest mortgage lender said, with the average home costing 291,000, 3,9000 more than in December.