UK house prices have hit a record high according to Halifax, ahead of major stamp duty changes.
The bank said average property prices reached £299,138 in January, a 0.7% month-on-month rise from December.
The lender, part of Lloyds Banking Group, also said annual house prices rose 3% in the year to January in its latest House Price Index (HPI), which is based on mortgage approvals.
Alice Haine, personal finance analyst at Bestinvest, said the housing market remained “resilient” despite a weaker wider economic outlook.
She added upcoming stamp duty changes coming into effect in April had in part seen house prices rise as people rush to buy homes.
From this date, first-time buyers will have to pay stamp duty on properties worth £300,000 or more, down from £425,000.
Meanwhile, the threshold for people buying a second home is …
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