There are many UK housing market indexes released every month and we are attempting to provide the ultimate, comprehensive overview to the very fragmented reports available.
£292,000
Monthly Change 0.2%
Annual Change 3.4%
5 Year Change 25.3%
Source: HM Land Registry
£360,197
Monthly Change 1.7%
Annual Change 1.4%
5 Year Change 20.05%
Source: Rightmove
55,907
Monthly Change 4.8%
Annual Change 23.1%
5 Year Change 41.6%
Source: HM Land Registry
Monthly Change 22%
Source: Rightmove
48,1765
Monthly Change 3.9%
179 days
Source: Home
65 days
Source: Rightmove
2.4% properties price reduced last month
Source: Home
Annual Change 41.5%
Source: Bank of England
"The average price of property coming to the market for sale falls by a seasonal 1.7% this month (-£6,395) to £360,197, in line with the usual December monthly drop. Rightmove’s lead indicator of new seller asking prices measures prices at the very beginning of the home buying and selling process, capturing immediate changes in home-mover behaviour. New sellers typically need to come to market with some of the most competitive prices of the year in December, to motivate festivity-distracted buyers to act. While the market is slowing down as it always does in the build-up to Christmas, activity continues to remain strong compared to last year. This is laying the groundwork for a potentially busy Boxing Day bounce in home-mover activity, which has become a tradition in recent years as early-bird buyers and sellers flood onto Rightmove. Looking ahead to 2025, challenges remain, and Rightmove’s real-time data continues to show the impact of the looming stamp-duty deadline on March 31st .There are signs that those who are most likely to face higher stamp duty charges are trying to act fast to avoid them, despite now being very much up against the clock. Rightmove predicts that new seller asking prices will rise by a further 4% overall in 2025, aided by anticipated mortgage rate falls, which would help to stimulate activity."
"The November 2024 RICS Residential Survey results remain consistent with a gentle up-trend across the market, with metrics on new buyer demand, new instructions and house prices all continuing to register readings in expansionary territory. Looking ahead, despite the rise in mortgage interest rates seen over recent weeks, respondents still foresee a modest improvement in sales activity over the near-term, albeit expectations have been scaled back somewhat compared to the previous iteration of the survey."
"A net balance of +25% of respondents reported an increase in house prices at the aggregate level in November, up from a reading of +16% in October. Significantly, this series has now moved higher in each of the last four months, having sat at -16% as recently as July. When broken down, almost all parts of the UK are seeing an upturn in house prices, led by particularly strong growth being reported in Northern Ireland, the North West and North East of England, as well as in London. "
"More sales have helped house prices to return to growth in 2024. Annual price inflation was 1.9% in the 12 months to November 2024, compared to -1.2% a year ago. The average house price is £267,500. The South East (0.7%), Eastern (0.8%) and South West (0.9%) regions are recording the lowest levels of price inflation. House prices are rising fastest and rebounding off a low base in Northern Ireland (6.5%). The next highest growth rates are in the North West region (3.5%), followed by the North East (2.8%), Scotland and Wales (2.6%). "
“2021 has a lot of variables, and so is not an easy one to call, but with Rightmove’s unique leading indicators of buyer and seller behaviour we are confident that the housing market will continue to outperform general expectations next year as it did this."
"Our 2021 forecast of a 4% price rise is more conservative than the unsustainable 6.6% national average seen this year. There’s likely to be a lull in quarter two unless the stamp duty holiday is extended, but for many buyers its removal will not be make or break, though may lead them to reduce their offers to a degree to compensate for the higher tax, and indeed many sellers may be prepared to help to mitigate their buyer’s financial loss."
"First-time buyers will remain largely exempt, so in most cases will be no worse off. The maximum savings of £2,450 in Wales or £2,100 in Scotland are considerably less decisive than the £15,000 available in England for a house costing £500,000 or more, which does however only apply to a small part of the market.”
Russell Galley, Managing Director of Halifax: 2% to 5% fall"Despite the deepest recession for centuries, house prices have risen over the past year at their fastest rate since 2016, with mortgage approvals also at their highest level for over a decade. This growth has been driven by a shift in demand from buyers as a result of increased home working and a desire for more space, whilst the stamp-duty holiday brought forward many transactions that might otherwise have been planned for next year."
"With the stamp duty holiday also due to expire in March - and lower levels of demand - housing market activity is likely to slow. Taking all of this into account, the post-summer surge in house prices is unlikely to be sustained. Prices are expected to fall by between 2% and 5% next year, although forecast uncertainty is much higher than usual given the current economic and political environment."
Richard Donnell, Research and Insight Director at Zoopla: 1% rise“Central to our outlook is lower levels of turnover by long-run standards, which over time increases the scarcity of homes for sale."
"We expect the supply of properties for sale to moderate over 2021, which will restrict choice for consumers."
"This creates a scenario in which any improvement to the economic climate, growth in employment levels, or an uptick in consumer sentiment will in turn boost demand, increase transaction volumes in line 2019 levels, and could provide impetus for house price growth in 2022."
Lucian Cook, Head of Residential Research at Savills: 0% change“We do expect the economic effects of the pandemic to weigh more heavily on the housing market next year."
Nick Barnes, Head of Research at Chestertons: 1.5% rise"Assuming no further major systemic shocks, we anticipate that the brunt of Covid’s impact on employment will be felt by the mainstream market and we forecast that after an exceptional year of growth in 2020, prices growth across the UK will slow to 1.5%. Greater London prices have risen less but are likely to fall more, and we expect them to drop by 2% by the end of the year."
An ExprEstimate is simply an estimation of what your property could be worth in current market conditions. This is calculated using an automated computerised system. We use a number of publicly available data sources to help calculate our estimations, maps, tables and other content. This data may be inaccurate or incomplete at times and therefore must not be relied upon. Our valuation estimations, maps and tables are provided to you for personal use, general interest and to provide homeowners with a useful starting point when trying to assess their property’s current value and the UK property market in general. These estimates, maps, tables and any other content should not be relied upon for any type of commercial transaction. We strongly recommend that you seek a professional valuation from a qualified surveyor / qualified professional before any property sale, purchase, mortgage or related purposes. We shall not be liable for any losses you or anyone else suffers as a result of relying on the valuations, maps, tables and any other content. This includes not being liable for any loss of profit, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss. We cannot and do not guarantee that the Service will be constantly available or error-free. Also, our liability to you is limited to £100. WE DO NOT EXCLUDE OR LIMIT OUR LIABILITY FOR ANYTHING WE ARE NOT ALLOWED TO AND YOUR STATUTORY RIGHTS AS A CONSUMER ARE NOT AFFECTED BY ANY OF THESE TERMS AND CONDITIONS.
