(Feb 6): UK house prices bounced back in January, according to one of the country’s largest mortgage lenders, in a sign of returning demand after the Labour government’s budget.
Halifax said the average price of a home increased 0.7% to a fresh all-time high of £300,077 (US$407,000 or $518,713) — more than reversing the previous month’s 0.6% drop. The increase capped two consecutive months of declines and was the fastest rise since November 2024.
The figures add to evidence that the property market is turning a corner after a difficult 2025. Higher transaction costs kept potential buyers on the sidelines last year, a cautious mood that persisted ahead of Chancellor Rachel Reeves’ November budget, which raised taxes by a further £26 billion, including a new levy on homes valued above £2 million.
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