Halifax House Price Index February 2024

Key Trends

UK house prices rose by 0.4% in February on a monthly basis, according to Halifax.
On an annual basis, prices increased by 1.7%, compared with 2.3% in the previous month.
The average UK property now costs £291,699, an increase of £1000 on the previous month.
Eastern England experienced the most downward pressure on property prices.
Halifax noted that the figures suggest a stable start to the year and are supported by other positive market indicators, such as rising mortgage approvals.
Although wage growth is strong and inflation is easing, entering the property ladder and taking out mortgages will remain difficult for many households this year.