Halifax House Price Index – October 2023 (PDF 138kb-opens in a new window)

October House Price Index Headline Statistics

Average house price

Average house price


Monthly change


Quarterly change


Annual change


Kim Kinnaird, Director, Halifax Mortgages, said:

 “UK house prices rose in October, up +1.1% on a monthly basis, breaking a run of six consecutive monthly falls. Theaverage house price is now £281,974 – an increase of almost £3,000 compared to the previous month. On an annual basis, prices are down -3.2%, though the decline was at a slower pace than we saw in September (-4.5%).

“Prospective sellers appear to be taking a cautious attitude, leading to a low supply of homes for sale. This is likely to have strengthened prices in the short-term, rather than prices being driven by buyer demand, which remains weak overall. While many people will have seen their income grow through wage rises, higher interest rates and wider affordability pressures continue to be challenges for buyers. 

“Across the medium-term, with financial markets not anticipating a decline in the Bank of England’s Base Rate soon, we expect house prices to fall further overall – with a return to growth from 2025.

“The current picture should continue to be seen in the context of the longer-term house price trend as, on average, prices remain around £40,000 above pre-pandemic levels.” 

Future press releases.

Future press releases.

Published at 7.00am on:

Thursday 7th December 2023

Friday 5th January 2024

Wednesday 7th February 2024

Thursday 7th March 2024

Friday 5th April 2024

Tuesday 7th May 2024

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About the Halifax House Price Index

The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983.

From this data, a "standardised" house price is calculated and property price movements on a like-for-like basis (including seasonal adjustments) are analysed over time. The annual change figure is calculated by comparing the current month seasonally adjusted figure with the same month a year earlier.

IHS Markit, a world leader in critical information, analytics and solutions (NYSE: INFO) owns and acts as administrator for the Halifax House Price Index. For more information and details on how to access other indices from the Halifax House Price Index family go to the S&P Global website.

For all Halifax press releases, please see Lloydsbankinggroup.com