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. Housing Index in the United Kingdom averaged 198.78 Index Points from 1983 until 2019, reaching an all time high of 403.84 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 404.00 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 419.00 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.