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UK House Price Index – May 2024

Research and Insight May 2024
Top insights
Executive summary
Annual UK house price inflation is running at -0.1%
At a city level, price inflation ranges from -3% in Ipswich to +3.6% in Belfast – southern cities continue to register modest price falls
Momentum in sales activity continues, with 13% more sales agreed
There are more homes for sale than at any point in the last 8 years – up 20% year-on-year in number terms and 25% higher in value terms
More supply boosts choice and will keep price inflation in check in H2
The north-south divide in house price inflation is set to remain
The general election is likely to reduce the upward momentum in sales agreed, but committed buyers will continue to secure sales.
- 0.1 %

Annual UK house price inflation

13 %

Year on year change in sales agreed

+ 25%

Value of homes for sale versus last year

“There is a record high supply of homes for sale which shows renewed confidence among sellers, many of whom are also buyers. Greater choice will keep prices in check over 2024. The general election is likely to dampen the number of sales agreed in the run up to summer."

Richard Donnell Executive Director - Research
Measures of market activity continue to increase
Source: Zoopla Research
% change - 4 weeks to 19 May 2024 compared to same period in 2023