The January 2025 Halifax House Price Index was released earlier today – how did the market start in 2025?
The Halifax House Price Index (HPI) for January 2025 was published today – we’ve put together an overview of what it covers.
The latest data shows that UK house prices have increased by +0.7% in January, more than recovering from the dip of -0.2% in December. The average house price now sits at a new record high of £299,138.
According to the index, year-on-year prices are up +3.0%, a slight decrease from +3.3% in December 2024. The North East has taken over the North West as the strongest growth of any region in England, with house prices up +5.2%, compared to the previous year, with properties now costing an average of £178,696. Northern Ireland continues to record the strongest property price growth of any nation or region in the UK, rising by +5.9% on an annual basis in January 2025, although this has eased considerably compared to December (+7.3%).
The housing market has a positive start to the year with average prices rising and a new record high for property prices. Amanda Bryden, Head of Mortgages, Halifax noted that “affordability is still a challenge for many would-be buyers, but the market’s resilience is noteworthy. There’s strong demand for new mortgages and growth in lending. With a stamp duty increase looming, some of this demand may have come from first-time buyers eager to complete transactions before the end of March. Despite geopolitical uncertainties, and waning consumer confidence, other key indicators look fairly positive for the housing market.”
The next Halifax House Price Index is scheduled for release on Friday 7th March 2025.
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