According to the Halifax house price index, the average home value rose to £293,999 in October, surpassing the previous peak of £293,507 set in June 2022.
Goldman Sachs predicts that interest rates will decrease to 3% within a year.
Goldman Sachs has given households struggling with high mortgage rates a glimmer of hope, which predicts that the Bank of England will cut interest rates more rapidly than anticipated.
Mortgage rates reduced ahead of Bank of England announcement
High street lenders, including Halifax, NatWest, and Santander, have reduced their mortgage rates in anticipation of a potential Bank Rate cut.
House prices increase for the fifth consecutive month due to more accessible mortgage options.
House prices are nearing their all-time highs, having increased for a fifth consecutive month in February. This rise is attributed to a decline in mortgage rates, which has attracted more