Great news for commission rates in estate agency, but not so good if you're seeking a mortgage: average UK house prices were looking very un-average in analysis for November as they rose for the first time to within a few hundred pounds of £300,000.

Keeping close tabs on trends in the nation's real estate transaction prices, Britain's biggest mortgage lender, Halifax, said that a 1.3% jump in home values last month now meant prices are 25% ABOVE where they were in 2019, before the pandemic struck.

The lender's monthly house price index found the cost of an average home is now £298,083, which is a rise of almost £5,000 on the previous record set in October. Before the latest value increases, the record high was established in June 2022, at £293,507.

Amanda Bryden, Head of Mortgages, Halifax, said: "UK house prices rose for the fifth month in a row in November, up by 1.3% in the month - the biggest increase so far this year.

"This pushed the annual growth rate up to 4.8%, its strongest level since November 2022. As a result, the record average house price we saw in October edged higher still, with a typical property now costing £298,083."

The data landed amid improving levels of demand for mortgages, she said, with an easing in mortgage rates boosting buyer confidence: "However, despite these positive trends, many potential buyers and movers still face significant affordability challenges and buyer confidence may be tested against a changeable economic backdrop."

As we move towards the end of the year and into 2025, Ms Bryden said positive employment figures and anticipated decreases in interest rates were expected to continue supporting demand.

She added: "This should underpin further house price growth, albeit at a modest pace as borrowing costs remain above the average of a few years ago."

For those crunching numbers in the quest for an achievable mortgage here in Gloucestershire, £298,507 may not seem so giddy: while average prices rise nationwide, the latest data from Rightmove suggests home ownership in the shire is at even more of a premium.

Rightmove said: "House prices in Gloucestershire have an overall average of £381,031 over the last year. The majority of properties sold in Gloucestershire during the last year were semi-detached properties, selling for an average price of £343,176. Detached properties sold for an average of £578,325, with terraced properties fetching £297,971."

Overall, historical sold prices in Gloucestershire over the last year proved to be 2% down on the previous year, but remain a buoyant 6% up on the 2021 peak experienced in the county - which stood at £358,731.