UK house prices rise for third month in row but are forecast to drop this year

Growth rates driven by shortage of properties on market, says Halifax, with average house worth £287,105

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UK house prices rose for a third consecutive month in December amid a shortage of properties on the market, but are forecast to drop this year, according to Halifax.

Britain’s biggest mortgage lender, which earlier this week joined a new year rate-cutting war, said that property prices grew 1.1% in December, after a 0.6% rise in November and a 1.2% increase in October. A typical home in the UK is now worth £287,105, just over £3,000 more than in November.