Private rent and house prices, UK: December 2024

December 18, 2024
how to present your property for sale

Main points

  • Average UK private rents increased by 9.1% in the 12 months to November 2024 (provisional estimate); this is up from 8.7% in the 12 months to October 2024.
  • Average rents increased to £1,362 (9.3%) in England, £772 (8.0%) in Wales, and £980 (6.5%) in Scotland, in the 12 months to November 2024.
  • In Northern Ireland, average rents increased by 9.0% in the 12 months to September 2024.
  • In England, rents inflation was highest in London (11.6%) and lowest in Yorkshire and The Humber (5.7%), in the 12 months to November 2024.
  • Average UK house prices increased by 3.4%, to £292,000, in the 12 months to October 2024 (provisional estimate); this annual growth rate is up from 2.8% in the 12 months to September 2024.
  • Average house prices increased in England to £309,000 (3.0%), in Wales to £222,000 (4.0%), and in Scotland to £197,000 (5.5%), in the 12 months to October 2024.

Although still lower than historically, the total transaction volumes and new build volumes available to calculate UK House Price Index (HPI) estimates have increased recently.

2.UK private rent and house prices

Average UK private rents increased by 9.1% in the 12 months to November 2024 (provisional estimate). This was up from 8.7% in the 12 months to October 2024 but was below the record-high annual rise of 9.2% in March 2024.

Average UK house prices increased by 3.4% (provisional estimate), to £292,000, in the 12 months to October 2024. This annual growth was up from 2.8% in the 12 months to September 2024. Annual inflation has been generally increasing since its low point of negative 2.7% in the 12 months to December 2023.

HM Land Registry publishes the full UK House Price Index report and monthly data.

Our new local housing statistics tool summarises the latest private rents and house price statistics for local areas.

UK monthly rents estimates for the latest two months, and UK House Price Index (HPI) estimates for the latest 12 months, are provisional and subject to revision. All statistics are non-seasonally adjusted estimates, unless stated otherwise.

House prices by country and English region

The average house price for England was £309,000 in October 2024, up 3.0% (£9,000) from a year earlier. This annual rise was higher than in the 12 months to September 2024 (2.4%).

The average house price for Wales was £222,000 in October 2024, up 4.0% (£8,000) from a year earlier. This annual rise was higher than in the 12 months to September 2024 (0.9%).

The average house price for Scotland was £197,000 in October 2024, up 5.5% (£10,000) from a year earlier. This annual rise was higher than in the 12 months to September 2024 (5.1%).

The average house price for Northern Ireland was £191,000 in Quarter 3 (July to Sept) 2024, up 6.2% (£12,000) from Quarter 3 a year earlier.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Estate Agents should not all look the same
Estate Agent Talk

How to Become an Estate Agent with No Experience

Breaking into the property industry can seem intimidating – especially if you’ve never worked in it before. But the good news? You don’t need years of experience or fancy qualifications to start a career as an estate agent in the UK. In fact, many successful estate agents started with no background in property at all.…
Read More →
buying at auction uk
Estate Agent Talk

9 Advantages of Selling Your House by Auction

Selling your house by auction might seem like a daunting prospect, but it comes with numerous advantages that can make it a highly attractive option. While the traditional method of selling through an estate agent has its place, auctions are increasingly becoming a popular choice for homeowners looking for a swift and reliable sale. Here…
Read More →
Breaking News

Majority of Tenants Unsure How Changes Will Affect Them, Says LRG

With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
Read More →
Home and Living

Perfume Storage Tips: How to Keep Your Fragrances Fresh

Perfumes are sensitive compositions that can be significantly affected by how they are stored. Proper storage ensures that your favorite fragrances stay fresh and maintain their intended scent profile. In this article, we’ll explore practical, fun, and effective tips to help you preserve your perfumes in perfect condition. Understanding the Sensitivity of Perfumes Perfumes are…
Read More →
Breaking News

Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords

Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
Read More →
Breaking News

Breaking Property News 02/04/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Read More →