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 June 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.

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United Kingdom House Price Index YoY



Related Last Previous Unit Reference
Housing Index 498.52 493.31 points May 2022
Average House Prices 289098.93 286241.69 GBP May 2022
House Price Index MoM 1.00 1.20 percent May 2022

United Kingdom House Price Index YoY
The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. From this data, a "standardized" house price is calculated and property price movements on a like -for-like basis (including seasonal adjustments) are analyzed over time.
Actual Previous Highest Lowest Dates Unit Frequency
10.50 10.80 34.50 -16.80 1984 - 2022 percent Monthly
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News Stream
UK House Prices Ease Again
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.
2022-06-08
UK House Price Growth Eases Slightly in April
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.
2022-05-06
UK House Prices Climb to Fresh Record High
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.
2022-04-07