The Halifax says average house prices now top £180,000 but it expects house price inflation will ease
House prices rose by 1% in September with the average UK house price pushing through the £180,000 barrier, according to Britain's biggest mortgage lender.
The Halifax said a strong economy and healthy labour market would continue to support the housing market but it expected house price inflation to moderate over the rest of the year.
It reported that higher mortgage rates and utility bills would put financial pressure on households, reducing housing demand.
The annual rate of inflation eased to 8%, the lowest since April, and the Halifax said that housing activity was levelling out with loans approved for buying homes stabilising to around 120,000.