A report by Halifax on the House Price Index shows that house prices in December 2019 were 4% higher than in the same month in 2018.
On a month by month basis, house prices were said to have risen by 1.7% with house prices actually 1% higher October to December 2019, than the preceding three months from July to September.
Managing Director, Halifax, said: “Average house prices rose by 4% over 2019, at the top of our predicted range of 2% to 4% growth for the year,” explains Russell Galley, Managing Director, Halifax. “This was driven by a monthly gain of 1.7% in December which was the biggest monthly increase of 2019, pushing up the year-on-year growth rate and reflecting that December 2018 was a particularly weak month.
“Looking ahead, we expect uncertainty in the economy to ease somewhat in 2020, which should see transaction volumes increase and further price growth made possible by an improvement in households’ real incomes.”