The Halifax house price index in the United Kingdom increased 10.5% year-on-year in May of 2022, the slowest rate of growth seen since the start of the year. Compared to the previous month, house prices increased 1%, below 1.2% in April, the eleventh consecutive monthly rise, pushing average price to buy a home to a new high of £289,099. "The housing market has begun to show signs of cooling. Mortgage activity has started to come down and, coupled with the inflationary pressures currently exerted on household budgets, it’s likely activity will start to slow. So, there is perhaps one green shoot for prospective purchasers; with overall buying demand down compared to last year, we may be past the peak sellers’ market”, Russell Galley, Managing Director, Halifax, said. source: Halifax and Bank of Scotland
House Price Index YoY in the United Kingdom averaged 6.50 percent from 1984 until 2022, 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 July of 2022.
House Price Index YoY in the United Kingdom is expected to be 9.20 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 3.40 percent in 2023 and 2.70 percent in 2024, according to our econometric models.