UK house prices have hit another record high with the average property price reaching £299,138, Halifax has said.The UK's largest mortgage lender, part of Lloyds Banking Group, said property values recovered in January after seeing a slight dip in December.

LONDON (Reuters) -British house prices rose by more than expected in January, according to figures published by mortgage lender Halifax on Friday which suggested the housing market remained resilient despite affordability challenges.

There’s strong demand for new mortgages and growth in lending. With a stamp duty increase looming, some of this demand may have come from first-time buyers eager to complete transactions before the en

House prices climbed by 0.7% in monthly terms last month after falling by 0.2% in December, Halifax said, above a 0.2% increase forecast by economists in a Reuters poll. Prices increased by the most in nearly a year in the three months to January.

House prices in Yorkshire and Humber increased at the second-fastest rate in England last month, new analysis has revealed.

Affordability is still a challenge for many would-be buyers, but the market’s resilience is noteworthy, Halifax said.