More homeowners enjoyed an increase in their home’s value last year compared to those in 2023, according to new figures by property website Zoopla.
Half of all UK dwellings, which equates to about 15 million properties, appreciated by 1% or more in 2024. This is an increase from just over 10 million homes in 2023. Despite the overall uplift in property prices in 2024, around a third of the homes experienced dips in value exceeding 1%, amounting to over nine million homes.
In comparison, nearly six million homes had prices that remained relatively unchanged last year, Zoopla indicates. It seems most falls in house values were particularly pronounced in the southern regions of England, attributed to higher mortgage rates hitting purchasing capacity, said Zoopla.
Factoring both gains and losses, the typical property value edged up by £2,400 the previous year. Zoopla’s executive director, Richard Donnell, provided insights: “The housing market returned to growth in 2024 but the pattern of home value changes across Britain is far from uniform.
“There is headroom for prices to increase in markets where housing is affordable compared to incomes, which covers many parts of northern England and Scotland. In contrast, affordability is more of a constraint on price rises in southern England, where the market continues to adjust to higher borrowing costs. Faster income growth is helping to repair affordability, supporting moving decisions in 2025.”
Here are average changes in property values across Britain in 2024, followed by the percentage of homes with value increases of 1% or more according to Zoopla (Northern Ireland was not included in the regional breakdown figures, although it was in the main calculations):
Here are the towns with the highest percentages of homes increasing in value in 2024 in each region or nation, with the percentage of homes with an increase of 1% or more and the average cash increase:
Here are the towns with the highest percentages of homes decreasing in value in 2024 in each region or nation, with the percentage of homes with a decrease of 1% or more and the average cash decrease or increase among property values there:
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