House prices in the UK went up 4 percent year-on-year in December of 2019, higher than a 2.1 percent rise in November and way above market expectations of a 1.5 percent increase, Halifax data showed. It is the biggest annual gain since February of 2018. On a monthly basis, house prices increased 1.7 percent, the most since since February of 2007 and following an upwardly revised 1.2 percent increase in November. The average house price was GBP 238,963. Considering full 2019, house prices increased 4 percent. According to Russell Galley, Managing Director of Halifax, uncertainty in the economy is expected to ease in 2020, which should see transaction volumes increase and further price growth made possible by an improvement in households’ real incomes. However, longer-term issues such as the shortage of homes for sale and low levels of house-building will continue to limit supply, while the ongoing challenges faced by prospective buyers in raising deposits will serve to constrain demand.
Housing Index in the United Kingdom averaged 200.63 points from 1983 until 2019, reaching an all time high of 412.10 points in December of 2019 and a record low of 45.16 points in January of 1983. This page provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Halifax and Bank of Scotland
Housing Index in the United Kingdom is expected to be 409.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in the United Kingdom to stand at 420.00 in 12 months time. In the long-term, the United Kingdom House Price Index is projected to trend around 428.00 points in 2020, according to our econometric models.