The Halifax house price index in the United Kingdom rose 9.8 percent from a year earlier in December 2021, the largest increase since July 2007, helped by a lack of available homes for sale and historically low mortgage rates. The average price for a property hit £276,091, an increase of more than £24,500 compared to December 2020, marking the strongest year-on-year cash rise since March 2003. In 2021 the average house price reached new record highs on eight occasions, amid reports of lack of spending opportunities afforded to people and as household cash reserves were boosted by coronavirus restrictions that were in place. Also, the Stamp Duty holiday and the race for space as a result of homeworking supported demand for housing. Looking ahead, house price growth should slow considerably amid the prospect of higher interest rates. source: Halifax and Bank of Scotland

House Price Index YoY in the United Kingdom averaged 6.45 percent from 1984 until 2021, 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 January of 2022.

House Price Index YoY in the United Kingdom is expected to be 9.50 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 3.40 percent in 2023 and 2.70 percent in 2024, according to our econometric models.

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United Kingdom House Price Index YoY


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
9.80 8.20 34.50 -16.80 1984 - 2021 percent Monthly
SA

Calendar GMT Actual Previous Consensus TEForecast
2021-12-07 07:00 AM Nov 8.2% 8.2% 7.8%
2022-01-07 07:00 AM Dec 9.8% 8.2% 8.7%
2022-02-07 07:00 AM Jan 9.8% 10.5%


Related Last Previous Unit Reference
Housing Index 476.10 470.80 points Dec/21
Average House Prices 276091.00 273028.00 GBP Dec/21
House Price Index MoM 1.10 1.10 percent Dec/21


News Stream
UK House Prices Rise Most for Over 14 Years
The Halifax house price index in the United Kingdom rose 9.8 percent from a year earlier in December 2021, the largest increase since July 2007, helped by a lack of available homes for sale and historically low mortgage rates. The average price for a property hit £276,091, an increase of more than £24,500 compared to December 2020, marking the strongest year-on-year cash rise since March 2003. In 2021 the average house price reached new record highs on eight occasions, amid reports of lack of spending opportunities afforded to people and as household cash reserves were boosted by coronavirus restrictions that were in place. Also, the Stamp Duty holiday and the race for space as a result of homeworking supported demand for housing. Looking ahead, house price growth should slow considerably amid the prospect of higher interest rates.
2022-01-07
UK House Prices Hit Record High: Halifax
The Halifax house price index in the United Kingdom rose again in November with the value of the average property rising 1 percent compared to October and 8.2 percent compared to November 2020. On a rolling quarterly basis, the prices surged 3.4%, the most since the end of 2006, bringing the average cost of new property to a record high of £272,992. "Since the onset of the pandemic in March 2020, and the UK first entering lockdown, house prices have risen by £33,816, which equates to £1,691 per month. The performance of the market continues to be underpinned by a shortage of available properties, a strong labour market and keen competition amongst mortgage providers keeping rates close to historic lows. Those taking their first step onto the property ladder are also playing an important role in driving activity, with annual house price inflation for first-time buyers at 9.1% compared to 8.8% for home movers", Russell Galley, Managing Director, Halifax, said.
2021-12-07
UK Home Price Growth Picks Up to 4-Month High
The Halifax house price index in the United Kingdom rose 8.1 percent from a year earlier in October 2021, the most since June, as the performance of the economy and a surge in demand for labor continued to provide a benign backdrop to housing market activity. Buying demand, however, is expected to cool in the months ahead on the back of higher interest rates, which in turn would be tempered by the continued limited supply of properties available on the market. The housing market has been supported over the past 18 months by the race for space, with buyers seeking larger properties due to the pandemic, the cut to Stamp Duty, and first-time buyers helped by parental deposits, improved mortgage access and low borrowing costs. On a monthly basis, house prices were up 0.9 percent in October, compared with 1.7 percent in September.
2021-11-05