F&F LLP UKRE team’s newsflash: UK House Price Index for November 2024

The HM Land Registry (HMLR) has published the UK House Price Index for November 2024.

The latest data for November reveals some interesting trends in the UK housing market. On average, house prices have seen a slight decline of 0.4% since October 2024. Despite this monthly dip, there has been an annual price increase of 3.3%, bringing the average property value in the UK to £290,000.

England Highlights

Overall Trends: In England, house prices have mirrored the national trend, falling by 0.4% since October 2024. However, the annual price rise of 3% has pushed the average property value to £306,000.

Regional Variations:

• North East: This region experienced the most significant monthly increase, with house prices rising by 1.1%. Additionally, it saw the greatest annual price rise, with an impressive increase of 5.9%.
• South West: The South West faced the largest monthly price fall, with a decrease of 1.8%.
• London: The capital city recorded the lowest annual price growth, with a minimal rise of just 0.1%.

These figures highlight the dynamic nature of the housing market, with regional variations playing a significant role in overall trends. As we move forward, it will be interesting to see how these patterns evolve and what factors will influence future changes in property values.

For more details, please visit the official report here.

If you need further information or legal advice, including conveyancing services in England, please contact our dedicated UKRE team: Anna Douglass, Alastair Hargreaves, Caren Vidamour, and Hannah Damant, who will be delighted to assist.