Average house price heads swiftly towards £300k

Figures from the Halifax show house prices rose by 1.1% last month, bringing the annual pace of growth to 10.8%. It is the tenth consecutive monthly rise - the longest run since 2016 and leaves prices nearly £28,000 higher compared to April 2021. The price of the average home is now £286,079 and the lender says that, at the current rate of growth, the price of a typical home could hit £300,000 by the end of the year. Greater London continues to show the slowest rate of growth at 6.2%. However, it also has the highest-priced houses in the UK at an average of £537,896. Halifax managing director, Russell Galley, said: “Housing transactions and mortgage approvals remain above pre-pandemic levels and the continued growth in new buyer enquiries suggests activity will remain heightened in the short-term.” 

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