UK house prices up 2.2% in July ’24

Average UK house prices rose by 2.2 per cent to £290,000 in the 12 months to July 2024, a slight deceleration from the 2.7 per cent growth recorded in June.

The increase varied across regions: in England, prices reached £306,000 (up 1.6 per cent); in Wales, £218,000 (up 2.0 per cent); and in Scotland, £199,000 (up 6.0 per cent).

Meanwhile, average UK private rents climbed by 8.4 per cent in the 12 months to August 2024, down from 8.6 per cent in July.

Regional figures showed rents in England at £1,327 (up 8.5 per cent), in Wales at £752 (up 8.5 per cent), and in Scotland at £969 (up 7.6 per cent).

Northern Ireland saw a higher increase, with rents rising by 9.9 per cent to June 2024. Within England, rent inflation was most pronounced in London at 9.6 per cent and lowest in the South West at 6.4 per cent.