Band-inverted electron-hole bilayers support quantum spin Hall insulator and exciton condensate phases. We investigate such a bilayer in an external magnetic field. We show that the interlayer correlations lead to formation of a helical quantum Hall exciton condensate state. In contrast to the chiral edge states of the quantum Hall exciton condensate in electron-electron bilayers, existence of the counterpropagating edge modes results in formation of a ground state spin-texture not supporting gapless single-particle excitations. This feature has deep consequences for the low energy behavior of the system. Namely, the charged edge excitations in a sufficiently narrow Hall bar are confined, i.e.~a charge on one of the edges always gives rise to an opposite charge on the other edge. Moreover, we show that magnetic field and gate voltages allow to control confinement-deconfinement transition of charged edge excitations, which can be probed with nonlocal conductance. Confinement-deconfinement transitions are of great interest, not least because of their possible significance in shedding light on the confinement problem of quarks.
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