Halifax reports UK house prices rose 1.5% annually to £288,688; buyers await interest rate cuts.

Halifax reports annual house price rises, but buyers wait for interest rate cuts. The typical UK house price is £288,688, a 1.5% increase from the previous year. The average cost of property in the UK has been stable over the last three months, according to Halifax's House Price Index. However, many buyers are waiting for interest rate cuts before making their move.