The average UK house price edged up by £139 in November compared to October, according to the latest Halifax House Price Index.
Annual growth slowed to 0.7%, the weakest rate since March 2024, to leave the average price of a UK home at £299,892.
Halifax suggested the consistency in average prices between October and November has reflected “one of the most stable years for the housing market over the last decade”.
Head of mortgages at Halifax, Amanda Bryden, said that even with the changes to stamp duty in the spring and some uncertainty ahead of the Autumn Budget, property values had remained steady.
“While slower growth may disappoint some existing homeowners, it’s welcome news for first-time buyers,” Bryden commented.
“Comparing property prices to average incomes, affordability is now at its strongest since late 2015. Taking into account today’s higher interest rates, mortgage costs as a share of income are at their lowest level in around three years.
“Looking ahead, with market activity steady and expectations of further interest rate reductions to come, we anticipate property prices will continue to grow gradually into 2026.”
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