House prices are rising, are you ready to Sell?

UK house prices rose at their fastest monthly rate of the year in November with further increases expected next year, the Halifax has said.

The UK’s largest mortgage lender, part of Lloyds Banking Group, said property values were up 1.3% compared with October – the fifth consecutive monthly rise.

The average house price hit the latest record high of £298,083 last month, surpassing a peak of £293,999 in October.

On an annual basis, house prices have now seen the fastest growth for the past two years.

Halifax said house prices increased by 4.8% in November compared with a year earlier, up from 4% growth in October. That was the strongest annual growth for two years.