United Kingdom House Price Index YoYMay 2022 Data - 1984-2021 Historical

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.

The Halifax house price index in the United Kingdom increased 10.8% year-on-year in April of 2022, easing slightly for a third consecutive month but remaining elevated by historical standards. Compared to the previous month, house prices increased 1.1%, below 1.5% in March, but booking a 10th consecutive month that property values have increased, the longest run of continuous gains since the end of 2016. Average property price reached another new record high of £286,079. “For now, at least, despite the current economic uncertainty, the strong increases we’ve seen in house prices show little sign of abating. However, the headwinds facing the wider economy cannot be ignored. The house price to income ratio is already at its highest ever level, and with interest rates on the rise and inflation further squeezing household budgets, it remains likely that the rate of house price growth will slow by the end of this year", Russell Galley, Managing Director from Halifax, said.

The Halifax house price index in the United Kingdom climbed 11% in March of 2022 over the same month in 2021, following an upwardly revised 11.2% increase in February. The annual rate of house price inflation continues to track around its highest level since mid-2007 and pushed up average property prices by £28,113 to a fresh all-time high of £282,753. “The story behind such strong house price inflation remains unchanged: limited supply and strong demand, despite the prospect of increasing pressure on households’ finances. Although there is some recent evidence of more homes coming onto the market, the fundamental issue remains that too many buyers are chasing too few properties. The effect on house prices makes it increasingly difficult for first-time buyers looking to make their first step onto the ladder, but also challenges homemovers who face ever bigger leaps to move up the rungs to a larger property", Russell Galley, Managing Director, Halifax, said.