Average UK house price hits record £298,083, says Halifax

Property prices increase by 1.3% in November, the fifth consecutive monthly rise

The average price of a house in the UK has hit a record high as homeowners enjoy a fifth success month of increases in the value of their properties, Britain's biggest mortgage lender has said.

Halifax's monthly house price index found that the cost of an average home stood at 298,083 in November, up almost 5,000 on the previous record set in October.