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,

House prices came close to reaching a record high last month as falling mortgage rates helped to boost confidence among buyers, according to Halifax. The UK's largest mortgage lender said the average house price hit £293,399 in September, just short of the record £293,507 reached in June 2022.

It showed that prices rose by 0.3pc compared to August, leaving the average home worth £293,399, just shy of the record high of £293,507 set in June 2022.

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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.

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

UK 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.