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Are UK house prices falling in April 2024?

UK house prices have fallen -0.2% in the last year, bringing the average house price to £263,800. Here’s whether house prices are rising or falling in your region, city and local area in April 2024.

Words by: Ellie Isaac

Senior Editor

Our House Price Index, which measures the rise and fall of house prices across the UK, has tracked a -0.2% annual fall in house prices in April 2024.

The average UK house price is now £263,800, which is £410 lower than a year ago.

The pace of house price falls across the UK is slowing and measures of market activity are on the up, with +12% more agreed sales than a year ago. The number of approved mortgage applications was also +32% higher in February this year compared to a year ago according to the Bank of England.

But it’s a localised picture when it comes to house prices, with a clear divide between the South of England and the rest of the UK.

Let’s explore what’s happening with house prices across the country.

Where are UK house prices falling in April 2024?

A map of the UK showing average house price growth for each region and major city.
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Regions where house prices are falling

Five regions in the south of England are seeing annual house price falls, whereas house prices are rising across the rest of the UK.

Broadly speaking, the higher priced housing markets are seeing price falls or lower growth due to the greater impact of high mortgage rates on demand.

The East of England (-1.7%), the South East (-1.6%) and the South West (-1.4%) are the worst hit when it comes to house price falls.

London and the East Midlands are the final two regions where house prices have fallen over the last year, although these are minor at -0.7% and -0.2% respectively.

The other seven regions and countries of the UK are all seeing values rise, with the biggest jumps in Northern Ireland (+4.4%) and Scotland (+1.9%). Lower property prices in these regions mean less of an impact from high mortgage interest rates, supporting demand and house price rises.

Scotland is the only region where house prices have continually risen over the last 12 months.


Annual house price change (%)

Annual house price change (£)

Average house price

East of England




South East




South West








East Midlands




West Midlands








Yorkshire and the Humber




North West




North East








Northern Ireland




Cities where house prices are falling

Of all the UK’s cities and towns, Hastings, Ipswich, Norwich, Brighton and Worthing have seen the biggest house price falls in the last year, all down by between -2.0% and -2.9%.

And when it comes to major cities, Portsmouth (-1.5%), Southampton (-1.4%) and Bournemouth (-1.2%) have seen the largest house price falls.

House prices are also falling in Aberdeen (-0.8%), Oxford (-0.8%), Cambridge (-0.7%), Nottingham (-0.4%) and Bristol (-0.4%).

Many of these cities enjoyed strong buyer demand and significant price growth during the pandemic, then a larger reset in the face of higher interest rates for mortgages.

However, the current falls are lower than in recent months, showing that the scale and depth of house price falls is moderating and we may be past the worst - if mortgage rates remain at current levels or lower.

On the other hand, house prices are rising - albeit slowly - in more affordable cities across the UK. This includes Belfast (+4.5%), Glasgow (+2.5%), Sheffield (+1.5%), Manchester (+1.0%) and Cardiff (+1.1%).

Town or city

Annual price change (%)

Annual price change (£)

Average house price









































































Prime Central London
























































(We’ve only included the towns and cities where house prices are falling in this table: there are a further 32 where house prices are rising. Track your home for house price insights in your town or city.)

Local authority areas where house prices are falling

64% of UK homes are in local authority areas where house prices are falling on an annual basis.

This is lower than the 82% recorded in October 2023, and in most cases, house prices have only fallen between -0.1% and -3.0% over the year.

Everywhere in Great Britain is seeing a decline in the number of homes in falling markets, except for the South of England where between 95% and 100% of homes are in these areas.

Local authority area

Annual price change (%)

Annual price change (£)

Average price

Canterbury District




Thanet District




Dover District




Braintree District




Colchester District




Tendring District




North Norfolk District




South Norfolk District




Broadland District




Great Yarmouth District




Waveney District




Wealden District




Breckland District




Norwich District




Rother District




Tunbridge Wells District




West Somerset District




Sevenoaks District




Ashford District




City of London




(We only show the top 20 local authority areas in the UK with the biggest price falls in this table. You can track your home for insights into your local market.)

Why are UK house prices falling?

Higher interest rates on mortgages have made it harder for people to buy a home: you need to prove you can afford more, have a greater deposit and have a higher monthly income.

This has reduced buyer demand across the property market ever since the mini-budget in October 2022. While demand has dropped, supply has risen with more people looking to sell their homes.

These factors together create a buyers’ market - where buyers have more choice and sellers are under pressure to price more competitively. In turn, we see final sale prices drop in many regions, cities and local areas.

Will house prices keep falling in 2024?

It depends where in the country you live as the trends vary by area based on the overall affordability of homes and the level of house prices in each property market. 

However, the rate of falls will continue to slow. There are no signs that house prices will rise more quickly in 2024: they are likely to broadly track sideways.

It’s still a buyers’ market and there are many more homes for sale, boosting choice for buyers. Higher interest rates on mortgages have reduced buying power compared to recent years and buyers remain price sensitive and focused on value for money.

The decline in mortgage rates at the start of 2024 has boosted activity but rates appear unlikely to fall much further. At the same time, half of those with a mortgage have yet to move onto a higher rate which will keep affordability in check.

For those looking to move, the positive news is there are more active buyers in the market. Sellers are likely to agree a sale in 2024, but they can expect to achieve a similar price whether they sell now or towards the end of the year.

Why didn’t house prices fall further in 2023?

History suggests that mortgage rates rising from 2% to 5%+ would have led to larger house price falls than those we recorded in 2023.

But there are several reasons to explain the more modest falls.

The strength of the labour market and high growth in average earnings are important factors. Lenders’ forbearance policies are supporting households struggling with repayments, which has limited the number of forced sellers.

Perhaps most important is the tougher mortgage affordability testing for new borrowers since 2015. The new regulations were designed to stop households taking on excessive debt and artificially inflating house prices.

This has prevented a major housing overvaluation and made sure that most households can manage the transition to higher mortgage rates, although we are yet to see half of homeowners do that.

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Our House Price Index for April 2023 uses sold prices, mortgage valuations and data for agreed sales up to March 2023. It uses more data than any other to accurately track house prices and housing market trends in the UK.

We try to make sure that the information here is accurate at the time of publishing. But the property market moves fast and some information may now be out of date. Zoopla Property Group accepts no responsibility or liability for any decisions you make based on the information provided.