That marked the biggest monthly rise in UK house prices since January, according to the latest Halifax House Price Index

The average house price in the UK rose by 0.6% in October, or £1,647, bringing the cost of a typical home up to £299,862.

That marked the biggest monthly rise in UK house prices since January, according to the latest Halifax House Price Index. Annually, prices rose by 1.9%, up from 1.3% year-on-year growth in September.

Halifax also said that mortgage approvals had reached their highest level this year, indicating strong demand in the market.

Northern Ireland continued to see the strongest rate of annual house price growth in the UK, with average values jumping 8% over the past year and a typical home now costing £219,646.

Meanwhile, Scotland recorded annual house price growth of 4.4% in October, up to an average of £216,051. In Wales, average prices grew by 2% year-on-year, to a typical value of £229,558.

The North East recorded the highest annual growth rate in England in October, with prices rising 4.1% to £180,924.

Prices in London edged 0.1% lower in October, though the capital remains the most expensive part of the UK, with average home costing £542,273.

Demand from buyers has held up well coming into autumn, despite a degree of uncertainty in the market, with the number of new mortgages being approved recently hitting its highest level so far this year, said Amanda Bryden, head of mortgages at Halifax.

There is no doubt that affordability remains a challenge for many, she said. Average fixed mortgage rates are currently around 4% and likely to ease down further, but with property prices at record levels, moving home can feel like a stretch.

Bryden said that many buyers are opting for smaller deposits and longer terms on their mortgages to help make the numbers work.

With house prices rising more slowly than incomes for almost three years now, we expect the trend of gradually improving affordability to continue, she added.