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UK House Price Index – December 2024

Research and Insight
Top insights
Executive summary
There has been a sustained recovery in housing sales over 2024
Largest pipeline of sales working to completion for 4 years- 283,000 sales worth £104bn, up 30% on a year ago
Affordability pressures are keeping price inflation in check
UK house price inflation at +1.9% compared to -1.2% a year ago
Buyers have become more price-sensitive in Q4 2024, paying less of the asking price in the wake of the Autumn Budget
North-South divide in house price growth to remain over 2025
We predict a continued recovery in sales volumes to 1.15m in 2025, with modest house price inflation of 2.5%
+ 1.9 %

Annual UK house price inflation.

3.6 %

Gap between asking price and achieved sale price.

2.5m

Projection for annual UK house price inflation over 2025.

"Sales market activity has rebounded over 2024 as buyers and sellers return to the market. This has boosted sales volumes, but buyers remain price-sensitive, especially in the wake of the Budget and uncertainty over the outlook for mortgage rates in 2025."

Richard Donnell Executive Director - Research
Sales market activity records strong end to the year
Source: Zoopla Research
% change - 4 weeks to 14 Dec 2024 compared to the same period in 2023