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.


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United Kingdom House Price Index

Actual Previous Highest Lowest Dates Unit Frequency
412.10 404.58 412.10 45.16 1983 - 2019 points Monthly
1983=100, SA

Calendar GMT Actual Previous Consensus TEForecast
2019-12-06 08:30 AM Halifax House Price Index MoM Nov 1% -0.1% -0.7% 0.1%
2019-12-06 08:30 AM Halifax House Price Index YoY Nov 2.1% 0.9% 1% 1.2%
2020-01-08 08:30 AM Halifax House Price Index MoM Dec 1.7% 1.2% -0.2% -0.4%
2020-01-08 08:30 AM Halifax House Price Index YoY Dec 4% 2.1% 1.5% 1.7%


News Stream
2019-12-06
UK House Prices Rise More Than Expected
House prices in the UK went up 2.1 percent year-on-year in November of 2019, higher than a 0.9 percent rise in October and way above market expectations of a 1 percent increase, Halifax data showed. On a monthly basis, house prices went up 1 percent, the most since February and rebounding from modest falls in the previous two months. "Prices are now up by £3,904 since the start of the year. While a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties. It is these issues which we believe will continue to underpin the resilience evident in the market for most of 2019. Over the medium term we expect the emerging trend of modest gains to continue into next year", Russell Galley, Managing Director of Halifax, said.

2019-11-07
UK House Price Growth at Over 6-Year Low
The Halifax House Price Index in the UK rose 0.9 percent year-on-year in the three months to October 2019, slowing from a 1.1 percent gain in the previous period and below market expectations of 1.4 percent. That was the weakest annual house price growth since the three months to April 2013. “A number of underlying factors such as mortgage affordability and wage growth continue to support prices, however there is evidence of consumers erring on the side of caution. “We remain unchanged from our view that activity levels and price growth will remain subdued while the UK navigates political and economic uncertainty.”, Russell Galley, Managing Director, Halifax, said.

2019-10-07
UK House Price Growth at Over 6-Year Low: Halifax
The Halifax House Price Index in the UK rose 1.1 percent year-on-year in the three months to September 2019, slowing from a 1.8 percent gain in the previous month and below market expectations of 1.6 percent. It was the weakest annual house price growth since the three months to April 2013. "Whilst this is lowest level of growth since April 2013, it remains in keeping with the predominantly flat trend we’ve seen in recent months", Russell Galley, Managing Director, Halifax, said. “Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile for buyers, important affordability measures – such as wage growth and interest rates – still look favourable". “Looking ahead, we expect activity levels and price growth to remain subdued while the current period of economic uncertainty persists”, he added.

2019-09-06
UK House Price Growth at 4-Month High
The Halifax House Price Index in the UK increased 1.8 percent year-on-year in the three months to August of 2019, following a downwardly revised 1.5 percent rise in the previous month and below market expectations of 3.4 percent. It was the highest annual house price growth since the three months to April. “Although the housing market will undoubtedly be influenced by events in the wider economy, it continues to show a degree of resilience for the time being. We should also not lose sight of the fact that the single biggest driver of both prices and activity over the longer-term remains the dearth of available properties to meet demand from buyers.”, Russell Galley, Managing Director, Halifax, said.

2019-08-07
UK House Price Growth Eases to 4-Month Low
The Halifax House Price Index in the UK increased 4.1 percent year-on-year in the three months to July 2019, following a 5.7 percent rise in the previous period and below market expectations of 4.4 percent. It was the lowest annual increase in house prices since March. “The market continues to tread water with marginal increases or decreases in each monthly period. That said, it’s worth remembering that while economic uncertainty continues to weigh on the market, the overall trend actually remains one of comparative stability, with average prices down by less than £600 over the last three months. New buyer enquiries are up, and favourable mortgage affordability should continue to underpin prices for the time being. In the longer-term, we believe there is unlikely to be a step change in market activity until buyers and sellers see some form of resolution to the current economic uncertainty.”, Russell Galley, Managing Director, Halifax, said.

2019-07-05
UK House Prices Rise The Most Since 2017
The Halifax House Price Index in the UK rose 5.7 percent year-on-year in the second quarter of 2019, following a 5.2 percent increase in the previous three-month period and below market expectations of 5.9 percent. Still, it was the biggest increase in house prices since early 2017. “Recent industry figures show demand looking slightly more stable, with mortgage approvals ticking along just above the long-term average. One of the major restraining factors on the volume of transactions in the market continues to be the very low level of stock for sale. With the ongoing lack of clarity around Brexit, people will be looking for more certainty in the coming months, both to encourage them to list their property and to create the confidence needed to encourage buyers. The likelihood of continued historically low mortgage rates will underpin prices in the near term.”, Russell Galley, Managing Director, Halifax, said.


United Kingdom House Price Index
In the United Kingdom Housing Index refers to Halifax House Price Index. The Index is based on a sample of mortgage data covering around 15,000 house purchases per month.

United Kingdom Housing Last Previous Highest Lowest Unit
Housing Starts 37220.00 36630.00 69520.00 17120.00 units [+]
Construction Output 2.00 -0.30 24.00 -19.20 percent [+]
Housing Index 412.10 404.58 412.10 45.16 points [+]
Mortgage Approvals 64.99 64.66 151.80 26.36 Thousand [+]
Mortgage Applications 43715.00 41312.00 92238.00 17589.00 Units [+]
Nationwide Housing Prices 429.46 430.37 434.21 98.95 points [+]
Construction Pmi 44.40 45.30 64.60 27.80 points [+]
Construction Orders -6.80 -4.80 37.40 -43.90 percent [+]
Home Loans 4052.00 4312.00 10274.00 -308.00 GBP Million [+]
Home Ownership Rate 65.10 65.00 73.30 63.40 percent [+]