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UK House Price Index – September 2024

Research and Insight October 2024
Top insights
Executive summary
Lowest mortgage rates for 15 months boosts sales market activity
Buyer demand and sales agreed up 25% since 2023
Buyers remain price-sensitive, keeping price rises in check
UK house prices up 0.7%, from -0.3% a year ago
House prices are rising by up to 2.5% in more affordable areas
Almost a third of homes for sale are ‘chain-free’ as investors and second home owners sell in the face of recent and possible tax changes
Some coastal and rural areas see supply of homes for sale up 40% on last year
The outlook is for modest price growth and steady growth in sales
+ 0.7 %

UK house price inflation - August 2024

25

New sales agreed year-on-year

32%

Homes for sale marked as ‘chain-free’

“Home buyers are benefitting from the lowest average mortgage rates for 15 months. This is supporting double-digit growth in all the key measures of sales market activity. Annual house price inflation is positive, but remains below 1%”

Richard Donnell Executive Director - Research
Lower mortgage rates boost sales market activity
Source: Zoopla Research
% change - 4 weeks to 22 Sept 2024 compared to the same period in 2023