House prices across the UK have jumped by an average of 4% in the year to September, according to Britain’s largest lender, the Halifax.
The rate indicates a pick-up from August, when the Halifax said prices were rising at an annual pace of 2.6%.
The Halifax said the average price of a house or flat in the UK had now risen to a new high of £225,109.
A shortage of properties for sale and growth in full-time employment was supporting prices, it said.
“However, increasing pressure on spending power and continuing affordability concerns may well dampen buyer demand,” said Russell Galley, the managing director of Halifax Community Bank.