ISTANBUL

House prices in the UK rose by 3.9% year-on-year in October, easing from 4.6% in September, finance firm Halifax announced Thursday.

Prices also rose by 0.2% on a monthly basis, a fourth consecutive monthly increase.

The average UK property price reached £293,999 ($380,600), the highest since June 2022.

"That house prices have reached these heights again in the current economic climate may come as a surprise to many, but perhaps more noteworthy is that they didn’t fall very far in the first place," said Amanda Bryden, mortgage manager at Halifax.