Halifax House Price Index – June 2024 (PDF opens in a new window)

June House Price Index Headline Statistics

Average house price

Average house price

£288,455

Monthly change

-0.2%

Quarterly change

-0.5%

Annual change

+1.6%

Amanda Bryden, Head of Mortgages, Halifax, said:

"UK house prices stayed relatively flat for the third successive month in June, with the slight fall equivalent to less than £500 in cash terms. On an annual basis, house prices posted a seventh consecutive month of year-on-year growth, with the average UK property value now standing at £288,455.

“This continued stability in house prices – rising by just +0.4% so far this year – reflects a market that remains subdued, though overall activity has been recovering. For now it’s the shortage of available properties, rather than demand from buyers, that continues to underpin higher prices. 

“Mortgage affordability is still the biggest challenge facing both homebuyers and those coming to the end of fixed-term deals. This issue is likely to be eased gradually, through a combination of lower interest rates, rising incomes, and more restrained growth in house prices. 

“While in the short-term the housing market is delicately balanced and sensitive to the pace of change to Base Rate, based on our current expectations property prices are likely to rise modestly through the rest of this year and into 2025.” 

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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.

S&P DJI, 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