Average house prices rose by 1.3% in January, increasing by £3,924 to £291,029 compared to December 2023, the latest Halifax house price index has indicated. 

Year-on-year, property prices grew by 2.5%, making their annual growth rate its highest since January 2023.

In December’s house price index, Halifax suggested that house prices could fall by between 2% and 4% in 2024, but that uncertainty remains high due to the current economic climate.