UK HBOS House Price Index definition
UK Halifax house price index
The UK Halifax house price index measures UK house prices to give an indication of trends in the UK real estate sector. The index is limited to properties financed by the Halifax Bank of Scotland (HBOS), but it is seen as the leading index in the sector.
How does the Halifax house price index impact the economy?
The rise and fall of house prices can have large implications for the national economy by impacting residential investment and economic growth.
Rising prices may indicate additional spending in the housing and construction sectors which leads to more robust economic growth. Meanwhile falling house prices may indicate a slowdown in spending when it comes to housing and construction sectors. The amount residents are willing to spend on housing also indicates their spending habits in general and the general activity within the UK economy.