House prices climb with fewer properties for sale

UK house prices rose 4pc in the 12 months to the end of September, marking an improvement from August, when prices rose 2.6pc.

Halifax, which released the data, said prices were pushed higher by the fact fewer properties were up for sale.

The average price of a property in the 12 months to September was £225,109, the lender said.

“However, increasing pressure on spending power and continuing affordability concerns may well dampen buyer demand,” Russell Galley, Halifax Community Bank managing director, said.