House prices hit record high in March after jumping 1.1%

House prices hit a record high of £254,606 on average in March, jumping by 1.1% month-on-month, according to an index.

Across the UK, property values were 6.5% higher than in March 2020, Halifax said.

Russell Galley, managing director, Halifax, said: "Following a relatively subdued start to the year, the housing market enjoyed something of a resurgence during March, with prices up by just over 1% compared to February."

The rise is the first since November last year, he said.

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