House prices rose 0.3 percent in October and 4.5 percent over the last year to a record average of £225,826, according to the Halifax House Price Index.

Halifax predicts that house prices will remain resilient in the coming months due to low unemployment, historically low interest rates and the low supply of homes. It adds that the modest rise in interest rates is unlikely to ‘dent’ demand.

Personal finance analyst at Hargreaves Lansdown, Sarah Coles, commented: “What to homeowners feels like pretty positive ne...