House prices rise for third month in a row to fresh record high - Halifax

(Sharecast News) - UK house prices rose in August for the third month in a row, to a fresh record high, according to figures released on Friday by Halifax. House prices ticked up 0.3% on the month following a 0.4% jump in July.

On the year, prices were up 2.2% in August, easing from 2.5% growth the month before.

The average price of a home stood at £299,331 last month, up from £298,400 in July and marking a new record high.

Amanda Bryden, head of mortgages at Halifax, said: "The story of the housing market in 2025 has been one of stability. Since January, prices have risen by less than £600, underlining how steady the market has been despite wider economic pressures.

"Affordability remains a challenge, but there are signs of improvement. Interest rates have been on a gradual downward path for nearly two years, and many of the most competitive fixed-rate mortgage deals now offer rates below 4%.

"Combined with strong wage growth - which has outpaced house price inflation for nearly three years - this is giving more prospective buyers the confidence to take the next step. Summer is typically a quieter period for the market, so the recent rise in mortgage approvals to a six-month high is an encouraging sign of underlying demand.

"While the wider economic picture remains uncertain, the housing market has shown over recent years that it can take these challenges in its stride. Supported by improving affordability and resilient demand, we expect to see a slow but steady climb in property prices through the rest of this year."