House prices and values in the UK for June 2024
House Prices:
- The average UK house price increased by 1.1% in the 12 months to April 2024, reaching £281,0001.
- This marks the second consecutive month of annual price growth after 8 months of declines.
London experienced the highest rent inflation at 10.1%, while the North East had the lowest at 6.1%.
If you are an investor looking to capitalise on the rent inflation in London please check this post on London property valuations.
We can help you rennovate and update so you can let out your property.
Private Rents:
- Average UK private rents rose by 8.7% in the 12 months to May 2024, slightly down from the previous month’s estimate of 8.9%.
- In England, average rents reached £1,301, in Wales £736, and in Scotland £957.
- Notably, Northern Ireland saw a substantial increase of 10.3% in rents during the 12 months to March 2024.
Keep in mind that these figures are provisional and subject to revision. For more detailed data, you can explore the Office for National Statistics report.
souces:
https://www.express.co.uk/finance/personalfinance/1912911/ons-data-reveals-uk-house-price-growth-inflation-drop-setting-stage-boe-s-interest-rate-ve
https://www.estateagenttoday.co.uk/breaking-news/2024/6/spring-bounce-average-house-prices-rise-for-second-consecutive-month
https://www.msn.com/en-gb/money/other/london-house-prices-remain-flat-but-can-you-guess-the-borough-thats-seen-a-10-increase/ar-BB1omMnY
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/privaterentandhousepricesuk/june2024
https://www.rightmove.co.uk/press-centre/house-price-index/june-2024/
Also check out our post on: London property valuations