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.
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Our sold house prices come from HM Land Registry, Registers of Scotland, official survey records, Royal Mail and Ordnance Survey.
The latest news on house prices
The supply of homes for sale has hit a five year high with 20% more homes on the market compared to this time last year.
House prices fall -0.2% over the last year while market activity improves with more sales and mortgage approvals. Here’s the latest on the UK housing market from the Zoopla House Price Index for April 2024.
Home buyers are currently facing an annual increase of £4,300 on their mortgage repayments, rising to £7,500 in London.
Buyer confidence is improving and 12% more homes are going under offer compared to this time last year. Mortgage approvals for home purchases are also up 32%.
The new national average house price is £264,500 in April 2024. Check out a host of hot properties available for around that price right now.
Too good to be true? Not so. If you're after a renovation project, investment opportunity , we've got 10 properties for sale for £10,000 or less.
Seller discounts narrow in spring 2024 as more sales are agreed. Momentum is growing in the housing market and house prices don't need to fall further to support the continued recovery in sales.
Mortgage rates are not expected to fall further this year, but rising wages are likely to improve affordability for buyers as house prices stay flat.
9 in 10 homeowners who sold up in 2023 made 25% in profit, with the average seller of a £275,000 property earning £74,000. How much money did your home make?
The housing market continues to recover with house price falls steadying and 15% more property sales than this time last year. Get the latest on house prices and market trends with our House Price Index for February 2024.
Buyers are back in market and demand is now 11% up on this time last year. This is good news for sellers, as the number of sales agreed climbs 15%.
Keep track and satisfy your curiosity
Track a property to see how its price estimate changes each month, get local area insights and find out what nearby homes are selling for.
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Check out our latest House Price Index
Find out what's happening with house prices and get the latest housing market trends in our monthly House Price Index.
Our experts answer your questions
Are UK house prices falling?
Yes, UK house prices are falling slowly as the market continues to get used to higher mortgage rates. The average house price in the UK is now £263,600. This is no change compared to a month ago and a fall of -0.5% (or £1,200) compared to a year ago.
Read more in our House Price Index: February 2024.
Ellie Isaac
Senior EditorWill property prices keep falling in 2024?
It depends where in the country you live as the trends vary based on the overall affordability of homes and the level of house prices in each property market. The rate of falls will continue to slow and house prices are likely to broadly track sideways at current levels during 2024.
Richard Donnell
Executive Director - ResearchHow do mortgage rates affect house prices?
When mortgage rates are higher, it makes borrowing money to buy a house more expensive. This reduces demand and usually means lower house price growth.
Average mortgage rates are currently between 4% and 5% and are likely to stay at this level for the foreseeable. Try our mortgage calculator to see how much you could borrow.
Nic Hopkirk
Senior EditorDoes Zoopla have all sold house prices in the UK?
We get our sold house prices from HM Land Registry and Registers of Scotland each month, but it can take up to 6 months for sales to appear in our data. They also don't provide some property prices, such as the sale of a share or a transfer after a divorce. If we don’t have a sold house price, get an instant valuation instead.
Izabella Lubowiecka
Senior Property ResearcherWhy are UK house prices so high?
The biggest house price growth in recent times came between 2020 and 2022, when low mortgage rates and then the pandemic boosted demand from buyers. 12 in 13 homes increased in value by an average of £19,000 in 2022.
In 2023, this rate of growth slowed down. 3 in 5 homeowners saw their homes hold their value or rise - by £7,800 on average.
Matilda Battersby
ContributorWhat's happening with London property prices?
London has the most expensive homes in the UK, but the average value of a London home is just 8% higher than 7 years ago. For the rest of the UK, this figure is 28% higher, showing that London homes are becoming better value for money.
The cheapest places to buy a home in London are Plumstead, Deptford and Thamesmead East.
Richard Donnell
Executive Director - ResearchThinking of selling?
Get the ball rolling with an in-person valuation of your home. It’s free and there’s no obligation to sell if you change your mind.
