Monthly Halifax house price index 2018-2022

The Halifax house price index, which was set at 100 in 1992, reached a value of more than 500 over the course of 2022. As of December 2022, the index stood at 485, which was the fourth consecutive month of house prices decreasing after the index peaked at 507 index points in August 2022.

Average House Prices

Average house prices are affected by several factors: Economic growth, unemployment, interest rates and mortgage availability can all affect average prices. A shortage of supply means that the need for housing and, therefore competitive market created will push up house prices, whereas an excess of housing means prices fall to stimulate buyers. One of the main reasons for the decrease in house prices in the second half of 2022 was interest rates rising as a response to inflation.

Housing transactions

In the United Kingdom (UK), there are approximately one million residential property transactions annually. On a country level, England makes up the majority of transactions made.