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Halifax reveals 2024’s regional rises and falls


30 December 2024

  • Biggest house price growth in Stoke-on-Trent, +17.2% in the 12 months to September 2024.
  • Cost of a home fell most in Huddersfield (-6.6%) - after the area topped the house price growth table in 2023.
  • Regionally, the South East had the smallest percentage growth in average house prices, +1.8%.

 

House prices in Stoke-on-Trent surged by +17.2% during the 12 months to September 2024, emerging as the best performing area for house price growth in the UK housing market, according to the latest data from Halifax.

Following closely behind, Slough experienced a rise of +14.9% in house prices, and, in Oldham, the cost of a home increased by +14.6%.  Research from Halifax earlier this year found that over seven in 10 (73%) house purchases in Slough were made by first-time buyers.

Top ten UK towns and cities with greatest house price growth 2023 to 2024

Town / LA Region Average Price 2023 Average Price 2024 £ Growth in Price % Growth in Price
Stoke-On-Trent West Midlands £193,662 £227,002 £33,339 17.2%
Slough South East £433,194 £497,704 £64,510 14.9%
Oldham North West £218,595 £250,546 £31,951 14.6%
Bradford Yorkshire and The Humber £200,093 £226,261 £26,168 13.1%
Bolton North West £223,231 £252,070 £28,839 12.9%
Barnsley Yorkshire and The Humber £199,725 £224,886 £25,161 12.6%
Wolverhampton West Midlands £247,403 £278,083 £30,680 12.4%
Doncaster Yorkshire and The Humber £204,371 £228,040 £23,669 11.6%
Dunfermline Scotland £208,013 £230,379 £22,365 10.8%
Hamilton Scotland £208,360 £229,835 £21,474 10.3%

2023 vs 2024, rolling 12-month data to end September each year, minimum sample 150

Capital dominates for lowest house price growth

The ten towns and cities with the smallest house price growth are led by Huddersfield, which saw a decline of -6.6% over the 12 months to September of this year, equivalent to a fall of £18,514.

This should be seen in some important context – Huddersfield came top of the table last year, with an average growth in house price of +8.7% meaning, over the two years, house prices in the area have risen overall.

Several London boroughs also experienced some of the lowest house price growth over the period, including Ealing, Southwark and Harrow.

Top ten UK towns and cities with lowest house price growth 2023 to 2024 

Town / LA Region Average Price 2023 Average Price 2024 £ Growth in Price % Growth in Price
Huddersfield Yorkshire and The Humber £279,012 £260,498 -£18,514 -6.6%
Wirral North West £311,003 £294,250 -£16,753 -5.4%
Ealing London £588,383 £559,788 -£28,596 -4.9%
Southwark London £583,203 £555,325 -£27,878 -4.8%
Kingston Upon Thames London £607,522 £582,282 -£25,240 -4.2%
Enfield London £527,807 £506,667 -£21,140 -4.0%
Harrow London £572,921 £552,203 -£20,718 -3.6%
Westminster London £757,083 £730,859 -£26,224 -3.5%
Bromley London £558,980 £541,131 -£17,848 -3.2%
Aylesbury South East £435,416 £423,252 -£12,164 -2.8%

 
 
Amanda Bryden, Head of Mortgages, said: 

 

“Some areas of the UK – including Stoke-on-Trent, Wolverhampton and Dunfermline - have seen remarkable house price growth this year, as buyers perhaps seek out more affordable areas where house prices, despite increases, are still coming in under the national average. This trend is causing house prices in some areas to flip from slowing, to growing, such as Stoke-on-Trent, which was the biggest faller last year but showed the highest rate of growth, regionally, this year.

 

“That story doesn’t play out nationally.  The high asking price for London properties means house prices have fallen in several boroughs - perhaps a reflection that the relatively high cost of properties is stretching affordability for buyers, or perhaps what they are willing to pay.  Overall, London has a house price to earnings ratio of 8.22, making it one of the least affordable places to live in the country, against a national ratio of 6.55.   

 

“Regionally, while the South East has seen some robust growth – in places like Basingstoke and Maidstone, overall, it is lagging behind the rest of the UK, with movement of just +1.8%, compared to +6.3% for the UK overall.  Much like London, first-time buyers won’t find a bargain here, as the slow growth is likely a consequence of the already-high property prices, relative to the national average.

 

“When you’re buying a home there’s so much to consider - it can become overwhelming, with the cost of a property just one of many things to think about.  My advice would be to make yourself a list of everything that’s important to you, decide which are the deal-breakers and which you’re willing to compromise on, then get stuck in with viewing houses and visiting areas to get a feel for each place.  Be open to everything that’s affordable and suits your personal circumstances – you never know where you might find a hidden gem that’s just right for you.” 

 

 

Nations and regions

 

UK nations and regions house price growth 2023 to 2024 London

Amanda Bryden, Head of Mortgages, said: “Some areas of the UK – including Stoke-on-Trent, Wolverhampton and Dunfermline - have seen remarkable house price growth this year, as buyers perhaps seek out more affordable areas where house prices, despite increases, are still coming in under the national average.

"This trend is causing house prices in some areas to flip from slowing, to growing, such as Stoke-on-Trent, which was the biggest faller last year but showed the highest rate of growth, regionally, this year.

“That story doesn’t play out nationally.  The high asking price for London properties means house prices have fallen in several boroughs - perhaps a reflection that the relatively high cost of properties is stretching affordability for buyers, or perhaps what they are willing to pay.  Overall, London has a house price to earnings ratio of 8.22, making it one of the least affordable places to live in the country, against a national ratio of 6.55.   

“Regionally, while the South East has seen some robust growth – in places like Basingstoke and Maidstone, overall, it is lagging behind the rest of the UK, with movement of just +1.8%, compared to +6.3% for the UK overall.  Much like London, first-time buyers won’t find a bargain here, as the slow growth is likely a consequence of the already-high property prices, relative to the national average.

“When you’re buying a home there’s so much to consider - it can become overwhelming, with the cost of a property just one of many things to think about.  My advice would be to make yourself a list of everything that’s important to you, decide which are the deal-breakers and which you’re willing to compromise on, then get stuck in with viewing houses and visiting areas to get a feel for each place.  Be open to everything that’s affordable and suits your personal circumstances – you never know where you might find a hidden gem that’s just right for you.” 

Nations and regions

UK nations and regions house price growth 2023 to 2024 

  Average Price 2023 Average Price 2024 Change in £ Change in %
Northern Ireland £203,724 £225,271 £21,547 10.6%
Yorkshire and The Humber £245,214 £260,946 £15,731 6.4%
West Midlands £281,510 £299,318 £17,807 6.3%
Scotland £233,360 £247,094 £13,733 5.9%
Wales £241,628  £255,197 £13,569 5.6%
North West £255,296 £269,139 £13,843 5.4%
East Midlands £276,825 £290,129 £13,304 4.8%
North East £213,166 £221,869 £8,704 4.1%
South West £337,880    £350,553 £12,673 3.8%
London £551,673 £571,583 £19,910 3.6%
East of England £392,996 £406,888 £13,891 3.5%
Unknown £378,358 £390,724 £12,365 3.3%
South East £440,509 £448,456 £7,947 1.8%
UK: £329,444 £350,066 £20,622 6.3%
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