UK House Prices Continue to Rise After Bank of England Cuts Rates

Recent data from Halifax reveals that average house prices in the UK continue to rise despite economic challenges. In August 2024, prices increased by 0.7% compared to the previous month, with an annual growth rate of 2.6%. This price increase has been facilitated by the Bank of England's reduction in interest rates, which has made mortgages more accessible for buyers. As a result, demand for housing has surged, contributing to the rise in prices.

Continue reading