Halifax House Price Index: UK house prices remained stable in June

The June 2024 Halifax House Price Index was released earlier today – have house prices remained stable?

TheHalifax 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: 

  • Average house prices declined by -0.2% in June
  • Property prices grew +1.6% on an annual basis (the same as last month) 
  • Typical UK home now costs £288,455, around £500 less than last month 
  • Northern Ireland recorded the strongest property price growth of any nation or region in the UK

 The next Halifax House Price Indexis scheduled for release on Wednesday 7th August 2024.   

Delve deeper into the property market for 2024 and watch our market trends webinar.

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