House prices rose by 4.3% on an annual basis in August which is the strongest rate of annual growth seen since November 2022, the latest Halifax House Price Index has revealed.

House prices climbed by 0.3% in August, a second consecutive month of positive growth following a 0.9% increase in July.

Foxtons CEO, Guy Gittins, said: “The patience of UK home sellers is now being rewarded, as house prices are increasing consistently from one month to the next and at their fastest rate since 2002. This growth is being driven by an uplift in buyer activity and whilst this has been building since the start of the year, we’ve certainly seen it step up a gear since the general election.

“As a result, we’re seeing more enquiries and more offers made, with buyers also acting with greater confidence since interest rates were cut at the start of the month. All in all, the outlook remains a positive one for the remainder of the year and we expect a strong level of activity to persist as we move into autumn.”

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