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UK House Price Index – October 2024

Research and Insight
Top insights
Executive summary
UK house price inflation increases to +1%, up from -0.9% a year ago
Sales activity running at the highest level since the 2020 boom
Pipeline of sales agreed is 30% higher than a year ago, at £113bn
High supply of homes for sale and affordability pressures keeping house price inflation in check
First-time buyers are the largest buyer group in 2024 (36% of sales)
The dynamics of renting and buying have shifted, supporting purchases by first-time buyers
A reversal of stamp duty land tax changes in the Budget could see 20% more FTBs paying this tax in England and N. Ireland
+ 1.0 %

UK house price inflation - September 2024

30

Growth in value of sales pipeline vs Oct 2023

36%

Proportion of 2024 housing sales by first-time buyers

“Housing market activity continues to recover in response to lower mortgage rates and rising incomes, with the largest sales pipeline for 4 years. House price inflation is being kept in check by a large supply of homes for sale and ongoing affordability constraints.”

Richard Donnell Executive Director - Research
Key measures of housing market activity remain robust
Source: Zoopla Research
% change - 4 weeks to 20 Oct 2024 compared to the same period in 2023