The housebuilding sector is very much in the news today with Halifax reporting UK house prices jumped in January for the fourth month in a row, rising 1.3%.
The lender said average house prices were 2.5% higher than a year ago, the highest annual growth since January 2023.
The typical UK home now costs £291,029, over £3,900 more than last month, Halifax said.
Halifax Mortgages director Kim Kinnaird said: “The recent reduction of mortgage rates from lenders as competition picks up, alongside fading inflationary pressures and a still-resilient labour market has contributed to increased confidence among buyers and sellers.”
“However, while housing activity has increased over recent months, interest rates remain elevated compared to the historic lows seen in recent years and demand continues to exceed supply.”