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- UK house price index up 2.2% in December
UK house price index up 2.2% in December
Prices in the three months to December were 1.3% higher than in the same three months a year earlier – up from the 0.3% annual growth rate recorded in November
House prices in the latest quarter (October-December) were 0.4% lower than in the preceding three months (July - September)
On a monthly basis, house prices increased by 2.2% in December, following a 1.2% fall in November • The average house price is now £229,729
Russell Galley, Managing Director, Halifax, said: “In December the average cost of a home was £229,729 and annual house price growth stood at 1.3%. A stronger monthly growth figure for December reversed a weak November figure, monthly fluctuations are common, leaving the annual figure very firmly in the range of 0-3% as we forecast at the start of the year. In 2019, we’re expecting continued stability in house prices with between 2% and 4% price inflation. This is slightly stronger than 2018, but still fairly subdued by modern comparison. However, this expectation will clearly be dependent on the Brexit outcome, with risks to both sides of our forecast”.
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