ONS House Price Index January 2025

January 15, 2025

Private rent and house prices, UK: January 2025

The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation.

Main points

  • Average UK private rents increased by 9.0% in the 12 months to December 2024 (provisional estimate); this is down from 9.1% in the 12 months to November 2024.
  • Average rents increased to £1,369 (9.2%) in England, £777 (8.5%) in Wales and £991 (6.9%) in Scotland, in the 12 months to December 2024.
  • In Northern Ireland, average rents increased by 8.6% in the 12 months to October 2024.
  • In England, rents inflation was highest in London (11.5%) and lowest in Yorkshire and The Humber (5.4%), in the 12 months to December 2024.
  • Average UK house prices increased by 3.3%, to £290,000, in the 12 months to November 2024 (provisional estimate); this annual growth rate is up from 3.0% in the 12 months to October 2024.
  • Average house prices increased in England to £306,000 (3.0%), in Wales to £219,000 (3.0%) and in Scotland to £195,000 (4.7%), in the 12 months to November 2024.

UK private rent and house prices

Average UK private rents increased by 9.0% in the 12 months to December 2024 (provisional estimate). This was down from 9.1% in the 12 months to November 2024 and was below the record-high annual rise of 9.2% in March 2024.

Average UK house prices increased by 3.3% (provisional estimate), to £290,000, in the 12 months to November 2024. This annual growth was up from 3.0% in the 12 months to October 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.

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 £306,000 in November 2024, up 3.0% (£8,000) from a year earlier. This annual rise was higher than in the 12 months to October 2024 (2.6%).

The average house price for Wales was £219,000 in November 2024, up 3.0% (£6,000) from a year earlier. This annual rise was lower than in the 12 months to October 2024 (3.3%).

The average house price for Scotland was £195,000 in November 2024, up 4.7% (£9,000) from a year earlier. This annual rise was lower than in the 12 months to October 2024 (5.0%).

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

Rightmove logo
Breaking News

New sellers lower prices in June, encouraging more to buy

New seller asking prices drop by 0.3% (-£1,277) this month to £378,240. This is an unusual dip for June, as new sellers lower their price expectations amid decade-high competition to secure buyers Some segments of the market are performing more strongly than others, with affordability and supply levels key: The higher-priced southern regions and the…
Read More →
Letting Agent Talk

How to Clean Your Rental Property for a Full Deposit Return

Although it is a dreadful chore, sprucing up your flat at the end of your tenancy is vital if you want your entire deposit back. When it comes to cleaning, landlords and property managers usually have high standards. Any oversight could cost you part of your initial payment. Having said that, your property can look…
Read More →
Breaking News

Two-year mortgage deals the lowest they’ve been since 2022 – but will they remain?

New research from Moneyfacts has shown that two-year mortgage deals are at the lowest they’ve been in two years and have also fallen to their biggest margin in over six months. The current average mortgage according to research is at 5.18%, having fallen by 0.14% in the past month. Meanwhile, five–year rates currently stand on…
Read More →
Letting Agent Talk

CP12 Landlord Certificates: What They Are and Why You Need Them

If you’re a landlord in the UK with gas appliances in your rental property, you’re legally bound to ensure they’re safe. That’s where the CP12 certificate for landlords enters the picture. Also called a Landlord Gas Safety Record, the certificate assures that your property’s gas installation is safe and in accordance with regulations. Yet, despite…
Read More →
Breaking News

Horse Guards Parade property prices up 17% since last Trooping the Colour

The latest property market analysis from London’s number one lettings and sales estate agency brand*, Foxtons, has found that it’s not just military prowess on show during Trooping the Colour this weekend, as house prices within the SW1A postcode, home to Horse Guards Parade, have soared by 17.3% over the last year, demonstrating the pedigree…
Read More →
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More →