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UK House Price Index – July 2024

Research and Insight
Top insights
Executive summary
The housing market continues to adjust to 4%+ mortgage rates with increased market activity rather than faster price growth
House prices are broadly flat over the last 12 months, but prices are higher across all regions and countries of the UK over H1 2024
UK house prices are on track to be up to 2% higher over 2024
The supply of homes for sale continues to grow and is 16% higher than a year ago – the average estate agent has 33 homes for sale
More supply and choice is supporting sales growth but will also keep price inflation in check
Buyers are paying a greater proportion of the asking price (96.8%), which has rebounded the most in London and the South East
+ 0.1 %

Annual UK house price inflation - June 2024

96.8 %

% of asking price achieved (UK average)

+ 16%

Stock of homes for sale vs a year ago

"The outlook for the housing market continues to improve with more sales and buyers paying a greater proportion of the asking price. The first base rate cut will boost market sentiment and market activity over H2."

Richard Donnell Executive Director - Research
Housing market activity running above pre-pandemic level (2017-2019)
Source: Zoopla Research
% change - 4 weeks to 21 July 2024 vs same period in 2017-19