Average UK house price hits record £300,000 as demand remains undented

Cost of housing at all-time high, Halifax reports, as mortgage lengths and borrowing multiples grow

Another month, another record for house prices. On Friday, the UK’s largest lender, Halifax, reported that the average cost of a home had risen to just under £300,000 after a 1.3% jump in November.

After a pandemic, a cost of living crisis and a mortgage market meltdown two years ago, you might have expected prices to be roughly where they were five years ago – instead, they are up by more than 25%. So, how did the market defy the odds?

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