The Halifax house price index rose 5.2 percent from a year earlier in August of 2020, the largest annual increase since late 2016, as a surge in market activity has driven up house prices through the post-lockdown summer period, fuelled by the release of pent-up demand, a strong desire amongst some buyers to move to bigger properties, and the temporary cut to stamp duty. On a monthly basis, prices went up 1.6 percent, slightly above forecasts of 1.5 percent. The average price of a property reached over £245,000 for the first time on record. “Notwithstanding the various positive factors supporting the market in the short-term, it remains highly unlikely that this level of price inflation will be sustained. The macroeconomic picture in the UK should become clearer over the next few months as various Government support measures come to an end, and the true scale of the impact of the pandemic on the labour market becomes apparent", Russell Galley, Managing Director at Halifax said.
Housing Index in the United Kingdom averaged 204.41 points from 1983 until 2020, reaching an all time high of 423.76 points in August of 2020 and a record low of 45.16 points in January of 1983. This page provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom House Price Index - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Halifax and Bank of Scotland
Housing Index in the United Kingdom is expected to be 412.00 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 410.00 in 12 months time. In the long-term, the United Kingdom House Price Index is projected to trend around 418.00 points in 2021 and 425.00 points in 2022, according to our econometric models.