Rolling coverage of the latest economic and financial news, as average UK house price rises to just £100 away from a record high. German factory orders tumble in August 08:25 Dark economic clouds are flocking over Germany this morning,

The average UK house price last month was just over £100 away from a record high, according to an index. The typical property value in September was £293,399, just £108 below a record high of £293,507 set in June 2022, Halifax said.

The UK's largest mortgage lender said the average price hit £293,399 in September, just short of the record £293,507 reached in June 2022. Prices have now risen for three months

LONDON (Reuters) -British house prices rose in September at the fastest annual pace since November 2022, according to data from mortgage lender Halifax, as expectations of further reductions in borrowing costs added to momentum in the property sector.

UK house prices climbed for a third consecutive month in September as cheaper mortgages and increased incomes spurred more buyers into the market, data from Halifax showed.