The average UK house price has risen above £300,000 for the first time after jumping by 0.7% month-on-month, Halifax has reported.On an annual basis, property values increased by 1.0% typically in January, taking the average price to £300,077.Although the UK's average property price is now above £300,000, growth in recent years has been relatively modest, following the sharp increases seen during the coronavirus pandemic, the report said.

The average UK house price has risen above £300,000 for the first time after jumping by 0.7% month-on-month, Halifax has reported.On an annual basis, property values increased by 1.0% typically in January, taking the average price to £300,077.Although the UK's average property price is now above £300,000, growth in recent years has been relatively modest, following the sharp increases seen during the coronavirus pandemic, the report said.