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

Home and Living

High Quality Modular Homes for the UK

Are you looking for added accommodation space in your garden / on your land? Modular Living Homes by tutumHOUSE offer a new way to live – minimalist in form, rich in experience. “There are approximately 9.6 million homes in the UK with a garden shed, and around 52% of the population owns one.” asgardsss There…
Read More →
Estate Agent Talk

The most stressful places to move to in the UK

With more people in the UK moving homes during summer than any other season and the average cost of moving in the UK rising to over £14,000, picking the right place to move to has become more crucial than ever. Luckily, new research from Pay Less for Storage reveals the UK cities that make life easiest…
Read More →
Estate Agent Talk

Time-Traveling Estate Agent Sequel Climbs Amazon Charts

A UK Estate Agent Currently Bringing Joy to People’s Lives – Shame He’s Fictional…   Eric Meek, the fictional estate agent created by author Dale Bradford, is back for a second outing in The Time‑Travelling Estate Agent 2, a sequel that is already climbing Amazon’s bestselling time‑travel rankings. Estate agents were recently highlighted as the third…
Read More →
Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More →
Breaking News

Breaking Property News 24/07/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpticWise – digital infrastructure in commercial real estate If your building were a product, how would it perform on the user experience scale?  Week 9: Experience as Infrastructure – Designing for Human-Centric Buildings Welcome to Week 9 of our 52-week journey into the future…
Read More →
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More →