According to Halifax, the average UK house price hit a record £293,999 in October, exceeding the previous peak from June 2022. Prices increased by 0.2% from September and are up 3.9% year-on-year. Despite rising mortgage costs and anticipated slower interest rate cuts by the Bank of England post-Budget announcements, market activity remains robust. Amanda Bryden from Halifax noted that house prices have remained stable despite economic pressures, while an independent adviser highlighted strong mortgage application rates as estate agents remain busy.