HM Land Registry publish UK House Price Index for September 2024, showing house price changes for England, Scotland, Wales and Northern Ireland.

The September data shows:

• • on average, house prices have fallen by 0.3% since August 2024
  • there has been an annual price rise of 2.9% which makes the average property in the UK valued at £292,000

England

In England the September data shows, on average, house prices have fallen by 0.1% since August 2024. The annual price rise of 2.5% takes the average property value to £309,000.

• • The North-East experienced the most significant monthly increase with a movement of 2.4%
  • Yorkshire and the Humber saw the greatest monthly price fall, with a fall of -1.7%
  • The North-East experienced the greatest annual price rise, up by 6.5%
  • London saw the lowest annual price growth, with a rise of -0.5%

Price change by region for England:

Repossession sales by volume for England:

The lowest number of repossession sales in July 2024 was in the East of England.

The highest number of repossession sales in July 2024 was in the North-East.

Average price by property type for England:

Funding and buyer status for England:

Building status for England:

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices decreased by 0.8% since August 2024. An annual price fall of 0.5% takes the average property value to £526,000.

Average price by property type for London:

Funding and buyer status for London:

Building status for London:

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices fell by 2.2% since August 2024. An annual price increase of 0.4% takes the average property value to £217,000

There were 9 repossession sales for Wales in July 2024.

Average price by property type for Wales:

Funding and buyer status for Wales:

Building status for Wales:

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

UK house prices:

UK house prices rose by 2.9% in the year to September 2024, up from the revised estimate of 2.7% in the 12 months to August 2024. On a non-seasonally adjusted basis, average house prices in the UK increased by 1.5% between August 2024 and September 2024, up 0.5% from the same period 12 months ago (August and September 2023).

The UK Property Transactions Statistics showed that in August 2024, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 90,000. This is 5.4% higher than a year ago (August 2023). Between July 2024 and August 2024, UK transactions decreased by 0.4% on a seasonally adjusted basis.

House price monthly increase was highest in Yorkshire and the Humber where prices increased by 2.7% in the year to August 2024. The highest annual growth was in the The North West, where prices increased by 4.6% in the year to August 2024.

See the economic statement.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

Access the full UK HPI.

Kindly shared by HM Land Registry