Halifax House Price Index: UK house prices rise steeply to reach new record high

by Aaron Strutt

Apr 07 2022

Average UK house prices rose again in March for the ninth month in a row according to the latest Halifax House Price Index. The increase of 1.4%, or £3,860 in cash terms, was the biggest jump since last September.

With 2021’s strong momentum continuing into the beginning of this year, the annual rate of house price inflation (+11.0%) continues to track around its highest level since mid-2007. The new record price of £282,753 is up some £28,113 on a year ago.

The South-East recorded a big increase, with house price growth at 11.6% and an average price of £385,790. Prices in the region have now risen by £40,177 over the last year, the first time any English region outside of London has ever posted a £40,000-plus rise over just 12 months. London itself continued its recent upward trend, with prices now up by 5.9% year-on-year, with an average price of £534,977.

Source: Halifax House Price Index