UK house prices rose more than expected in October, climbing 0.6% on the month, according to data from mortgage lender Halifax released on Friday. The increase marked a stronger performance than economists had forecast, signaling that the property market remains resilient despite economic uncertainty.
Halifax reported that house prices were 1.9% higher year-on-year, up from a 1.3% annual rise in September. In comparison, a Reuters poll of economists had projected a modest 0.1% monthly increase and a 1.5% annual gain.
The pace of growth in the UK housing market has slowed in 2025 compared with the strong rebound seen in the second half of 2024. Analysts attribute the moderation to ongoing concerns about the economy and the potential for new housing-related taxes, as Finance Minister Rachel Reeves prepares to announce the national budget on November 26.
Meanwhile, data from Nationwide, another major mortgage lender, showed a 0.3% rise in house prices in October, lifting annual price inflation to 2.4%.
