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. Housing Index in the United Kingdom averaged 199.23 Index Points from 1983 until 2019, reaching an all time high of 403.80 Index Points in February of 2019 and a record low of 45.16 Index Points in January of 1983.
Housing Index in the United Kingdom is expected to be 409.00 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 422.00 in 12 months time. In the long-term, the United Kingdom House Price Index is projected to trend around 438.00 Index Points in 2020, according to our econometric models.