The Halifax House Price Index in the UK rose 2.6 percent year-on-year in the first quarter of 2019, following a 2.8 percent increase in the previous period and missing market expectations of 2.3 percent, revised data from mortgage lender Halifax showed. "The need to build up a deposit before getting a mortgage is still a challenge for many looking to buy a property. However, the combined effect of fewer houses for sale and fewer people looking to buy continues to support prices in the long-term. These conflicting challenges, when combined with the ongoing uncertainty around Brexit, have had an impact across the country but most notably in London, meaning that we continue to expect subdued price growth for the time being.", Russell Galley, Managing Director, Halifax, said. Housing Index in the United Kingdom averaged 375.30 Index Points from 1983 until 2019, reaching an all time high of 766.90 Index Points in February of 2019 and a record low of 96.10 Index Points in January of 1983.
Housing Index in the United Kingdom is expected to be 769.00 Index 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 789.00 in 12 months time. In the long-term, the United Kingdom House Price Index is projected to trend around 805.00 Index Points in 2020, according to our econometric models.