The UK Halifax House Price Index fell -0.5% MoM in March, well below the 0.2% MoM increase that was expected. This is the 2nd straight negative monthly print.

• The annual increase in house prices was 2.8% YoY, unchanged from the 2.8% YoY increase in February.
• Over the last three months, house prices are up 0.5% QoQ, the weakest quarterly increase since July 2024.
• Halifax: “House prices rose in January as buyers rushed to beat the March stamp duty deadline. However, with those deals now completing, demand is returning to normal and new applications slowing. Our customers completed more house sales in March than in January and February combined, including the busiest single day on record. Following this burst of activity, house prices, which remain near record highs, unsurprisingly fell back last month.”