UK average house price tops £300,000 for first time

Halifax data show the average UK home rose 0.7% in January to £300,077, the first time the typical price has exceeded £300,000; annual growth accelerated to 1% from 0.4%.

Halifax's latest figures show the average UK house price rose 0.7% in January, taking the typical home value to £300,077, the first time the average has passed £300,000. Annual growth picked up to 1% from 0.4% the previous month. Halifax said the January rise reversed a 0.5% fall in December. The lender also highlighted continuing regional differences and that affordability remains a challenge for many would-be buyers. Key figures: - The average UK house price was reported at £300,077 in January. - Prices increased 0.7% in January, reversing a 0.5% fall in December. - Annual house price growth rose to 1% from 0.4% the month before. - Halifax said prices rose 5.7% over the past three years (about £16,000), compared with almost 19% (about £44,000) between 2020 and 2023. - The lender reported wage growth has outpaced property inflation since late 2022 and noted more mortgage deals are available below 4%. Summary: The rise takes the typical UK home above £300,000 and underlines a widening north–south divergence and ongoing affordability pressures. Halifax said stronger wage growth and falling mortgage costs have eased some pressure and that it expects prices to edge up by 1% to 3% in 2026. Undetermined at this time.