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 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

Overseas Property

The most in-demand holiday home destinations

Alicante is the ideal place in the sun when it comes to Brit foreign property dreams Province on Spain’s Eastern coast is the most popular destination for Brits in TV foreign property series Almeria and the Costa Del Sol are in the top three based on analysis of 1,000 episodes of A Place In The…
Read More →
Breaking News

Two Weeks to Go for First Phase of Renters’ Rights Act

With just two weeks until the first phase of the Renters’ Rights Act comes into effect, letting agents across England are being urged to ensure they are fully prepared for the significant operational and compliance changes ahead. From 1 May 2026, the new legislation will introduce wide-ranging reforms to tenancy structures, possession processes and rent…
Read More →
Breaking News

Housing Insight Report: February 2026

The housing market shows steady activity, ongoing challenges with sales agreed rising slightly and stock levels stable, while affordability pressures and longer transaction times continue to strain buyers and sellers. Demand is strong in the rental sector, with significant competition among tenants despite only a modest increase in available properties. Rents have remained relatively stable…
Read More →
Breaking News

London boasts biggest property market gap

UK’s property price gaps exposed: London tops with £838k difference between top and bottom of the market The latest research from eXp UK has revealed the scale of the price divide between the most and least expensive property markets across each region of the UK, with three areas seeing average house price gaps of more…
Read More →
Letting Agent Talk

Questions raised over tenant-agent trust gap

New research from Propoly has found that while over half of tenants describe their letting agent as professional, quick to respond to queries, and efficient in handling maintenance issues, issues still exist, particularly a widespread suspicion that agents are not working in the tenants’ favour. Propoly commissioned a survey of 1,000 UK tenants* to understand…
Read More →
Letting Agent Talk

29 is the age house sharing becomes ‘embarrassing’

but 11% still do it, according to new Nationwide research That equates to 27 million admitting they have felt embarrassed about their living situation With 69% saying living alone is unaffordable, it’s no surprise the average age of those in house shares is 35 From moving home (12%) to living with an ex (10%), as…
Read More →