UK House Prices: Halifax Data Defies the Gloom

Just days after downbeat Nationwide figures, Halifax says house prices rose in 2023

Alliance News 5 January, 2024 | 9:25AM
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UK house prices rose for the third consecutive month, according to data from Halifax on Friday.

The Halifax house price index rose 1.1% on a monthly basis in December, after rising 0.6% in November.

The typical UK home cost £287,105 in December, around £3,066 higher than in November. This was the highest level seen since March 2023.

On an annual basis, prices rose 1.7%, having fallen 0.8% in November.

"The average property price is now £4,800 higher than it was in December 2022. Whilst it's encouraging that we saw growth in the last three months of the year, this was preceded with property price falls for six consecutive months between April and September," noted Halifax Mortgages director Kim Kinnaird.

"The growth we have seen is likely being driven by a shortage of properties on the market, rather than the strength of buyer demand. That said, with mortgage rates continuing to ease, we may see an increase in confidence from buyers over the coming months."

Earlier this week data from Nationwide showed a different trend, with prices falling on 2022 levels.

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