Our monthly Property Surveying summary of property market news, survey data, statistics, trends and information. (All figures below are the most recently available data.)
Data source: Land Registry
UK average house price = £293,000, 0.6% change in the month, 2.8% in the year. Monthly index (where January 2015 = 100) 153.6
In the twelve months to August, the average house price in England rose to £310,000 (2.3%), in Wales to £223,000 (3.5%) and in Scotland (5.4%). The North West of England was the region with the highest house price inflation (4.6%).
UK average house price = £293,399, 0.3% in the month, 1.2% in the quarter, 4.7% in the year. Monthly index (where January 1992 = 100) 505.9
National average house asking price = £370,759, 0.8% in the month and 1.2% in the year.
There are more properties for sale and buyer demand is higher than a year ago. A positive outlook remains for 2025 although some buyers are thought to have waited until after the budget before making decisions.
UK average house price = £266,094, 0.7% change in the month and 3.2% in the year.
Average house prices are around -2% down on the all time high of summer 2022.
Over recent months, income growth has been stronger than house price growth and borrowing costs have reduced, which has helped affordability while underpinned house prices.
Average England and Wales house price = £353,958, -0.1% change in the month, -3.3% in the year.
Previously predicted falls in mortgage rates have not materialised and have contributed to a flat broader economy and housing market.
REGIONAL HOUSE PRICES
(all percentages are positive unless indicated otherwise)
UK HPI Regional figures
| August 2024 | Average Price | % Monthly change | % Annual change |
|---|---|---|---|
| England | £309,572 | 1.6% | 2.3% |
| Northern Ireland (Quarter 2 – 2024) | £185,025 | 3.6% | 6.4% |
| Scotland | £199,971 | 1.2% | 5.4% |
| Wales | £222,925 | 2.6% | 3.5% |
| East Midlands | £250,229 | 1.4% | 2.1% |
| East of England | £344,190 | 1.0% | 1.4% |
| London | £531,212 | 2.2% | 1.4% |
| North East | £166,032 | 1.5% | 1.7% |
| North West | £225,248 | 2.4% | 4.6% |
| South East | £384,804 | 1.4% | 1.6% |
| South West | £320,774 | -0.3% | 0.8% |
| West Midlands Region | £255,102 | 1.1% | 2.6% |
| Yorkshire and The Humber | £219,433 | 2.7% | 4.4% |
UK HPI Average monthly price by property type
| Property type | August 2024 | August 2023 | Difference |
| Detached | £443,355 | £436,151 | 1.7% |
| Semi-detached | £285,310 | £275,408 | 3.6% |
| Terraced | £243,437 | £236,337 | 3.0% |
| Flat or maisonette | £239,043 | £233,036 | 2.6% |
| All | £292,924 | £285,073 | 2.8% |
Rightmove regional figures
| October 2024 | Average price GBP | Monthly change | Annual change |
| London | £694,906 | 1.8% | 1.1% |
| South East | £483,780 | 0.1% | -0.6% |
| South West | £384,237 | -0.8% | -0.2% |
| East of England | £422,711 | 1.1% | 1.3% |
| West Midlands | £292,436 | -0.5% | 2.8% |
| East Midlands | £286,668 | -0.8% | 0.7% |
| North West | £262,989 | 0.4% | 2.6% |
| Wales | £263,212 | -0.8% | 1.8% |
| Yorkshire & Humber | £251,026 | -0.1% | 1.2% |
| North East | £192,742 | -0.5% | 4.9% |
LSL Acadata Regional Data
| August 2024 | Average House Price £ GBP | Monthly % change | Annual % change |
| East Midlands | £268,049 | 0.0% | -2.9% |
| East of England | £385,483 | -0.3% | -3.7% |
| London | £673,289 | -1.2% | -3.3% |
| North East | £193,762 | -0.3% | -0.5% |
| North West | £247,849 | -0.1% | 0.2% |
| South East | £439,694 | -0.7% | -5.3% |
| South West | £352,406 | -0.9% | -4.2% |
| West Midlands | £281,887 | -0.3% | -1.2% |
| Yorkshire and The Humber | £238,935 | -0.4% | -2.1% |
| England | £360,539 | -0.6% | -3.3% |
| Wales | £235,990 | 0.1% | -1.9% |
Focus on London
Best and Worst annual performers according to:
| Rightmove October 2024 |
Average Price (£) GBP | Monthly change | Annual change |
| Merton | £740,962 | 1.2% | 7.3% |
| Westminster | £1,513,873 | 0.1% | 6.5% |
| Richmond upon Thames | £917,612 | 0.7% | -3.1% |
| Brent | £606,181 | -0.7% | -3.9% |
RICS Survey Overview
The RICS Residential Market Survey for September 2024 reported an increase in market activity with higher new buyer enquiries, new listings and agreed sales.
Rightmove.co.uk is the UKs leading property website, displaying details of homes for sale or rent to the largest online audience. It is consistently ranked the number one property website in the UK (source: Experian Hitwise). It has around 90% of all properties for sale and at any time displays a stock of over one million properties to buy or rent, worth around £270 billion. The Rightmove.co.uk site attracts over 130 million visits from home movers each month with time on site averaging over one billion minutes per month (Rightmove data, 2017).
LSL Acad E&W HPI is derived from Land Registry (LR) house price data, seasonally and mix adjusted by property type. © Crown copyright material reproduced with the permission of Land Registry. The prices are smoothed to show underlying trends. LSL Acad E&W HPI includes cash purchase prices and is the only index based upon the complete, factual house price data for England & Wales, as opposed to a sample.
UK HPI: Monthly house price inflation, calculated using data from Land Registry, Registers of Scotland and Land and Property Services Northern Ireland. This replaces the previous House Price Indices separately published by Office of National Statistics and Land Registry.
All figures within this article are correct at the time of going to press, and are reproduced in good faith. No responsibility will be taken for any decisions taken based on the information contained herein. Always seek professional advice.
The Monthly Market Fact File is updated monthly on the day of publication.
SH/LCB