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UK House Price Index – June 2024

Research and Insight June 2024
Top insights
Executive summary
UK house prices unchanged over the last 12 months
Prices rising across all areas over last quarter. Annual rate of price inflation remains negative across southern England, rising elsewhere
Home buyers and sellers largely undeterred by election campaign
Demand (6%) and sales agreed (8%) both higher than last year
75% of the 1.1m sales projected for this year are either complete or in the sales pipeline
We calculate UK house prices are currently 8% ‘over-valued’ and by end of 2024 prices will be ‘fairly valued’
UK house prices on track to be 1.5% higher over 2024
0 %

Annual UK house price inflation

8 %

Current ‘over-valuation’ of UK house prices (2024 Q1)

75%

Proportion of expected 2024 housing sales completed or agreed and in pipeline

“The housing market continues to adjust to higher borrowing costs. The summer slowdown is now arriving, tempering activity. The timing of the first cut in the base rate is key and will give a boost to market sentiment and sales activity."

Richard Donnell Executive Director - Research
General election campaign fails to dent housing market activity levels
Source: Zoopla Research
% change - 4 weeks to 19 May 2024 compared to same period in 2023