House prices continued to tick up in August, bouncing back from weakness seen last year.
According to Halifax, average prices climbed 4.3% on an annual basis in August to £292,505.
This meant house prices were at their highest level since the same month in 2022 and sat just £1,000 off the record seen in June of that year.
Prices increased by 0.3% on a monthly basis, following a 0.9% uptick in July.
“Recent price rises build on a largely positive summer for the UK housing market,” Halifax mortgages head Amanda Bryden commented.
“Prospective homebuyers are feeling more confident thanks to easing interest rates.”
Northern Ireland saw the strongest price growth in August, Halifax added, of 9.8%, while increases of 5.5% and 1.7% respectively were seen in Wales and Scotland.
“With the housing market generally in better shape than it was a little over a year ago when mortgage rates were still alarmingly high, all eyes will be pinned on the next interest rate decision later this month," Bestinvest analyst Alice Haine added.
She added speculation over increases to capital gains tax in October's budget could threaten sentiment though, after the Labour government has signalled it will need to plug a £22 billion "black hole" in public finances.