Private Rent And House Prices UK November 2024

21st November 2024

Average UK private rents increased by 8.7% in the 12 months to October 2024 (provisional estimate); this is up from 8.4% in the 12 months to September 2024.

Average rents increased to £1,348 (8.8%) in England, £766 (7.9%) in Wales, and £976 (6.6%) in Scotland, in the 12 months to October 2024.

In Northern Ireland, average rents increased by 9.0% in the 12 months to August 2024.

In England, rents inflation was highest in London (10.4%) and lowest in Yorkshire and the Humber (5.9%), in the 12 months to October 2024.

Average UK house prices increased by 2.9%, to £292,000, in the 12 months to September 2024 (provisional estimate); this annual growth rate is up from 2.7% in the 12 months to August 2024.

Average house prices increased in England to £309,000 (2.5%), in Wales to £217,000 (0.4%), and in Scotland to £198,000 (5.7%), in the 12 months to September 2024.

UK private rent and house prices
Average UK private rents increased by 8.7% in the 12 months to October 2024 (provisional estimate). This was up from 8.4% in the 12 months to September 2024, but was below the record-high annual rise of 9.2% in March 2024.

Average UK house prices increased by 2.9% (provisional estimate), to £292,000, in the 12 months to September 2024. This annual growth was up from 2.7% in the 12 months to August 2024. Annual inflation has been generally increasing since its low point of negative 2.7% in the 12 months to December 2023.

The average house price for England was £309,000 in September 2024, up 2.5% (£8,000) from a year earlier. This annual rise was higher than in the 12 months to August 2024 (2.2%).

The average house price for Wales was £217,000 in September 2024, up 0.4% (£1,000) from a year earlier. This annual rise was lower than in the 12 months to August 2024 (2.9%).

The average house price for Scotland was £198,000 in September 2024, up 5.7% (£11,000) from a year earlier. This annual rise was higher than in the 12 months to August 2024 (5.3%).

The average house price for Northern Ireland was £191,000 in Quarter 3 (July to Sept) 2024, up 6.2% (£12,000) from Quarter 3 a year earlier.

Read the full ONS report HERE

Housing prices in Highland