The Halifax House Price Index in the United Kingdom rose by only 0.3 percent year-on-year in the three months to November 2018, easing from a 1.5 percent advance in the previous period and missing market expectations of a 1 percent gain. It was the lowest annual increase in house prices since December 2012. Still, that remained within Halifax forecast range of 0-3 percent for 2018 as prices continued to be supported by limited supply of new and existing properties for sale. High employment, wage growth and historically low mortgage rates continue to make home ownership more affordable for many, though the need to raise a significant deposit still acts as something of a restraint on the market. Housing Index in the United Kingdom averaged 371.84 Index Points from 1983 until 2018, reaching an all time high of 743.70 Index Points in July of 2018 and a record low of 96.10 Index Points in January of 1983.
Housing Index in the United Kingdom is expected to be 755.00 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 775.00 in 12 months time. In the long-term, the United Kingdom House Price Index is projected to trend around 795.00 Index Points in 2020, according to our econometric models.