United Kingdom House Price Index YoY

The Halifax House Price Index in the UK rose by 2.8% yoy in March 2025, unchanged from a slightly revised figure in February and marking the slowest growth since July 2024. On a monthly basis, house prices fell 0.5%, missing market consensus of a 0.2% rise and accelerating from a revised 0.2% fall in the prior month. It was the sharpest monthly drop in a year. Over the quarter, the index rose by 0.5%. The average property price fell to £296,699 from £298,602 in February. “Our customers completed more house sales in March than in January and February combined, including the busiest single day on record,” said Amanda Bryden, Head of Mortgages at Halifax. She added that potential buyers still face challenges from higher borrowing costs, limited property supply, and economic uncertainty. “However, with further base rate cuts expected and continued wage growth, mortgage affordability should improve. As a result, we still anticipate a modest rise in house prices over the course of the year.”