The Halifax House Price Index in the UK increased 3.9% year-on-year in October 2024, following a downwardly revised 4.6% rise in September and below forecasts of 4.2%. Compared to September, house prices edged up 0.2%, a fourth consecutive increase, following a 0.3% gain in each of the previous two months. The average property price was £293,999, surpassing previous peak of £293,507 in June 2022, compared to £293,305 in September and £283,053 a year earlier. “Looking ahead, borrowing constraints remain a challenge for many buyers. Following the budget, markets expect the Bank of England to cut rates more slowly than previously anticipated, which could keep mortgage costs higher for longer. New policies like higher stamp duty for second home buyers and a return to previous thresholds for first-time buyers might also affect demand. While we expect house prices to keep growing, it will likely be at a modest pace for the rest of this year and into next”, Amanda Bryden, Halifax, said. source: Halifax and Bank of Scotland

House Price Index YoY in the United Kingdom decreased to 3.90 percent in October from 4.60 percent in September of 2024. House Price Index YoY in the United Kingdom averaged 6.26 percent from 1984 until 2024, reaching an all time high of 34.50 percent in October of 1988 and a record low of -16.80 percent in February of 2009. This page includes a chart with historical data for the United Kingdom House Price Index YoY. United Kingdom House Price Index YoY - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.

House Price Index YoY in the United Kingdom decreased to 3.90 percent in October from 4.60 percent in September of 2024. House Price Index YoY in the United Kingdom is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom House Price Index YoY is projected to trend around 3.80 percent in 2025 and 4.20 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-07 06:00 AM
Halifax House Price Index YoY
Sep 4.7% 4.3% 5.1%
2024-11-07 07:00 AM
Halifax House Price Index YoY
Oct 3.9% 4.6% 4.2% 2.0%
2024-12-06 07:00 AM
Halifax House Price Index YoY
Nov 3.9% 1.3%


Related Last Previous Unit Reference
Average House Prices 293999.00 293305.00 GBP Oct 2024
Construction Orders YoY -9.40 28.30 percent Sep 2024
Construction Output YoY -0.40 0.50 percent Sep 2024
Mortgage Lending 2541.00 2851.00 GBP Million Sep 2024
Home Ownership Rate 64.90 65.10 percent Dec 2020
Halifax House Price Index MoM 0.20 0.30 percent Oct 2024
Halifax House Price Index YoY 3.90 4.60 percent Oct 2024
Housing Index 507.00 505.80 points Oct 2024
Housing Starts 22990.00 22580.00 units Jun 2024
Mortgage Approvals 65.65 64.96 Thousand Sep 2024
BBA Mortgage Rate 7.69 7.69 percent Oct 2024
Nationwide Housing Prices 530.12 530.83 points Oct 2024
Nationwide Housing Prices MoM 0.10 0.60 percent Oct 2024
Nationwide Housing Prices YoY 2.40 3.20 percent Oct 2024
Price to Rent Ratio 116.56 116.61 Jun 2024
Private Rental Prices 8.70 8.40 percent Oct 2024
Residential Property Prices 2.12 -0.75 Percent Jun 2024
RICS House Price Balance 16.00 11.00 percent Oct 2024

United Kingdom House Price Index YoY
The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. From this data, a "standardized" house price is calculated and property price movements on a like -for-like basis (including seasonal adjustments) are analyzed over time.
Actual Previous Highest Lowest Dates Unit Frequency
3.90 4.60 34.50 -16.80 1984 - 2024 percent Monthly
SA


News Stream
UK House Prices Continue to Rise
The Halifax House Price Index in the UK increased 3.9% year-on-year in October 2024, following a downwardly revised 4.6% rise in September and below forecasts of 4.2%. Compared to September, house prices edged up 0.2%, a fourth consecutive increase, following a 0.3% gain in each of the previous two months. The average property price was £293,999, surpassing previous peak of £293,507 in June 2022, compared to £293,305 in September and £283,053 a year earlier. “Looking ahead, borrowing constraints remain a challenge for many buyers. Following the budget, markets expect the Bank of England to cut rates more slowly than previously anticipated, which could keep mortgage costs higher for longer. New policies like higher stamp duty for second home buyers and a return to previous thresholds for first-time buyers might also affect demand. While we expect house prices to keep growing, it will likely be at a modest pace for the rest of this year and into next”, Amanda Bryden, Halifax, said.
2024-11-07
UK House Prices Rise the Most Since 2022
The Halifax House Price Index in the UK increased 4.7% year-on-year in September 2024, the most since November 2022, following a 4.3% rise in August. The higher annual growth continues to reflect the base impact of weaker prices a year ago. Compared to the previous month, house prices went up 0.3%, the same as in August and above forecasts of 0.2%. It marks a third consecutive month of rising prices, bringing the average property price up to £293,399, just shy of the record high of £293,507 set in June 2022. "Market conditions have steadily improved over the summer and into early autumn. Mortgage affordability has been easing thanks to strong wage growth and falling interest rates. This has boosted confidence among potential buyers, with the number of mortgages agreed up over 40% in the last year and now at their highest level since July 2022. We expect property price growth over the rest of this year and into next to remain modest”, Amanda Bryden, Head of Mortgages, Halifax, said.
2024-10-07
UK Annual House Price Growth Highest since 2022
The Halifax House Price Index in the UK increased 4.3% year-on-year in August 2024, the biggest rise since November 2022, following an upwardly revised 2.4% rise in July and compared to forecasts of 4.2%. The higher annual growth largely reflects the base impact of weaker prices a year ago. A typical property now costs £292,505, the highest since August 2022, compared to £291,585 in July. Compared to the previous month, house prices increased 0.3%, below 0.9% in July, but slightly above forecasts of 0.3%. "Recent price rises build on a largely positive summer for the UK housing market. Prospective homebuyers are feeling more confident thanks to easing interest rates", Amanda Bryden, Head of Mortgages, Halifax, said. "With market activity picking up and the possibility of further interest rate reductions to come, we expect house prices to continue their modest growth through the remainder of this year” she added.
2024-09-06