UK house prices rose by 1.7% in October 2006, according to the latest Halifax survey. Annual house price inflation now stands at 8.6%. However, analysts have warned that such levels of long-term growth are unlikely to continue.

Despite the average property in the UK being valued at £184,593, the building societys monthly house price index suggests a "weakening in activity."
Martin Ellis, the firms chief economist, pointed to "indications of a weakening in activity at earlier stages of the house-buying process, suggesting that house price inflation may soon begin to slow."