The June 2024 Halifax House Price Index was released earlier today – have house prices remained stable?
The Halifax House Price Index (HPI) for June 2024 was published today – we’ve put together an overview of what it covers.
The latest data shows that UK house prices remained stable in June, and house price were 1.6% higher than the same month a year earlier. The average house price now sits at £288,455.
According to the index, the annual rate of house price growth is unchanged from last month at +1.6%. In fact, average house prices were largely flat in June, down by just -0.2% on a monthly basis.
While there is a slight fall, equivalent to less than £500 in cash terms, UK house prices remain relatively flat for the third successive month in June. On an annual basis, house prices posted a seventh consecutive month of year-on-year growth. This continued stability in house prices reflects a market that remains subdued, though overall activity has been recovering. For the time being it’s the shortage of available properties, rather than demand from buyers, that continues to underpin higher prices.
In summary:
The next Halifax House Price Index is scheduled for release on Wednesday 7th August 2024.
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