ONS House Price Index – November 2024

November 20, 2024

Headlines

  • Average UK private rents increased by 8.7% in the 12 months to October 2024 (provisional estimate); this is up from 8.4% in the 12 months to September 2024.
  • Average rents increased to £1,348 (8.8%) in England, £766 (7.9%) in Wales, and £976 (6.6%) in Scotland, in the 12 months to October 2024.
  • In Northern Ireland, average rents increased by 9.0% in the 12 months to August 2024.
  • In England, rents inflation was highest in London (10.4%) and lowest in Yorkshire and the Humber (5.9%), in the 12 months to October 2024.
  • Average UK house prices increased by 2.9%, to £292,000, in the 12 months to September 2024 (provisional estimate); this annual growth rate is up from 2.7% in the 12 months to August 2024.
  • Average house prices increased in England to £309,000 (2.5%), in Wales to £217,000 (0.4%), and in Scotland to £198,000 (5.7%), in the 12 months to September 2024.

2. UK private rent and house prices

Average UK private rents increased by 8.7% in the 12 months to October 2024 (provisional estimate). This was up from 8.4% in the 12 months to September 2024, but was below the record-high annual rise of 9.2% in March 2024.

Average UK house prices increased by 2.9% (provisional estimate), to £292,000, in the 12 months to September 2024. This annual growth was up from 2.7% in the 12 months to August 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 explicitly stated otherwise.

3.House prices by country and English region

The average house price for England was £309,000 in September 2024, up 2.5% (£8,000) from a year earlier. This annual rise was higher than in the 12 months to August 2024 (2.2%).

The average house price for Wales was £217,000 in September 2024, up 0.4% (£1,000) from a year earlier. This annual rise was lower than in the 12 months to August 2024 (2.9%).

The average house price for Scotland was £198,000 in September 2024, up 5.7% (£11,000) from a year earlier. This annual rise was higher than in the 12 months to August 2024 (5.3%).

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.

See the full report here: ONS

EAN Breaking News

Breaking News. Have a new story to share with us? Then please get in contact today!

You May Also Enjoy

Letting Agent Talk

Top 3 Best Places to Be a Landlord in the UK

These are the 3 best cities to be a landlord, according to landlords. Landlord Resource have analysed Zoopla data to identify the UK’s highest-yielding buy-to-let locations and share top tips to find the right rental area for a return on investment. The top 3 highest-yielding buy-to-let cities in the UK revealed: Rank City Average Monthly…
Read More →
Breaking News

Landlords still backing buy-to-let

The latest research from London lettings and estate agent, Benham and Reeves, has revealed that more than half of landlords (50.6%) still believe residential property remains a good long-term investment despite increased regulation, with almost two-thirds (62.7%) intending to maintain their current portfolio over the next year. However, just 3.9% plan to expand, with landlord taxation…
Read More →
labour party scam mansion tax
Breaking News

Labour to enforce entry to your home for Property Mansion Tax?

As Labour take a tighter control on UK citizens and further explore taxes to impose – The latest trending topic discussed is the suggestion that they wish to send officials out to homes they serve in order to value and impose the mansion tax. If the group of unprofessional leaders in charge couldn’t slip any…
Read More →
small house bird box
Breaking News

Public Sentiment Favours Social Infrastructure Over Housing Resistance

Britain is more YIMBY than NIMBY, as social housing tops consumers’ housing policy priorities   More than two in five UK adults support new homes being built within three miles of where they live (43 per cent), nearly twice the proportion who oppose local development (22 per cent) Building social or affordable housing is the…
Read More →
Breaking News

Homebuyers are Prioritising Wi-Fi Over Good Schools

One in four Brits would reject a home over potential slow broadband Almost half (45%) of recent and prospective home movers rank broadband among their considerations when choosing a home, much more so than local schools (26%) Over 1 in 3 (37%) don’t feel settled into a new home until their Wi-Fi is working. Of…
Read More →
Letting Agent Talk

Landlord returns reach almost 7% in some areas

Landlord returns reach almost 7% in strongest rental markets, but protecting those returns is just as important as generating them   The latest analysis by The Letting Partnership has revealed that rental yields are reaching almost 7% in England’s strongest-performing markets, but the firm has warned landlords that generating a healthy return is only half the equation,…
Read More →