UK house prices slightly more affordable in 2024, reports Halifax

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UK house prices slightly more affordable in 2024, reports Halifax - Business Standard

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The Bank of England raised interest rates to a 15-year high of 5.25 per cent in August 2023 and started to cut them in August this year followed by a further reduction to 4.

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Halifax said the average house price in the third quarter of 2024 was 292,508 pounds ($368,823), barely changed on two years ago, although prices vary widely across the United Kingdom even after taking regional wage differences into account.