The average house price in the UK is \u00a3264,900 as of May 2024 (published in June 2024). Property prices are now at 0% inflation compared to a year ago. However, the average UK house price is set to rise by 1.5% by the end of the year.<\/p>\n
The recent pick up in sales market momentum has continued over June, albeit at a slightly slower pace than the previous 2\u20133 months. New sales agreed are still running 8% higher than a year ago, and other key measures of market activity are also higher year-on-year.<\/p>\n
However, there are signs that market activity is starting to slow as we approach the quieter summer period. Buyers and sellers who were at the start of the home-buying process when the election was called are more likely to have delayed their buying decisions until after the election. And this is adding to the slowdown in activity.<\/p>\n
Sales agreed are down slightly month-on-month across all regions, led by the North East (-6%) and West Midlands (-5%). The overall stock of homes for sale continues to grow across all regions, albeit at a slower rate than recorded over recent months. There are still almost a fifth more homes for sale than a year ago.<\/p>\n
Improving sales volumes over the first half of 2024 has led to a levelling in average house prices which is reflected in our house price index. All regions and countries of the UK have registered an increase in house prices on a month-on-month basis since January.<\/p>\n
The annual rate of UK house price inflation is now static at 0% in May 2024, up from a low of -1.3% in November 2023, and +1.6% a year ago. House prices continue to register annual price falls across southern England at a slowing rate. But prices continue to increase across the rest of the UK by up to 3.3% in Northern Ireland.<\/p>\n","protected":false},"excerpt":{"rendered":"
The average house price in the UK is \u00a3264,900 as of May 2024 (published in June 2024). Property prices are now at 0% inflation compared to a year ago. However, the average UK house price is set to rise by 1.5% by the end of the year. The recent pick up in sales market momentum […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4417","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-19f","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=4417"}],"version-history":[{"count":1,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4417\/revisions"}],"predecessor-version":[{"id":4418,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4417\/revisions\/4418"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=4417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=4417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=4417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}