HM Land Registry
Printable version

UK House Price Index for January 2024

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

UK House Price Index for January 2024

The January 2024 data shows:

  • on average, house prices have risen 0.5% since December 2023
  • there has been an annual price fall of -0.6% which makes the average property in the UK valued at £282,000

England

In England, the January 2024 Data shows on average, house prices have risen by 0.4% since December 2023. The annual price fall of -1.5% takes the average property value to £299,000.

The regional data for England indicates that:

  • The North East experienced the most significant monthly decrease with a movement of -1.7%
  • London saw the greatest monthly price growth, with a rise of 2.5%
  • the North West experienced the greatest annual price rise, up by 1.0%
  • London saw the lowest annual price growth, with a fall of -3.9%

Price change by region for England

Region Average price Jan 2024 Annual change % since Jan 2023 Monthly change % since Dec 2023
East Midlands £240,000 -1.9 -1.4
East of England £337,000 -2.2 1.2
London £518,000 -3.9 2.5
North East £155,000 -3.1 -1.7
North West £215,000 1.0 -0.6
South East £373,000 -3.1 0.6
South West £317,000 -0.6 1.5
West Midlands £249,000 0.6 0.6
Yorkshire and the Humber £204,000 -0.7 -0.7

Repossession sales by volume for England

The lowest number of repossession sales in November 2023 was in the East of England.

The highest number of repossession sales in November 2023 was in the London and North West.

Repossession sales November 2023
East Midlands 0
East of England 2
London 18
North East 12
North West 13
South East 4
South West 4
West Midlands 7
Yorkshire and the Humber 7
England 67

Average price by property type for England

Property type Jan 2024 Jan 2023 Difference %
Detached £463,000 £465,000 -0.6
Semi-detached £288,000 £290,000 -0.7
Terraced £244,000 £250,000 -2.1
Flat/maisonette £248,000 £255,000 -2.9
All £299,000 £303,000 -1.5

Funding and buyer status for England

Transaction type Average price    
Jan 2024 Annual price change % since Jan 2023 Monthly price change % since Dec 2023  
Cash £281,000 -1.7 0.4
Mortgage £308,000 -1.4 0.4
First-time buyer £249,000 -1.8 -0.3
Former owner occupier £341,000 -1.3 1.1

Building status for England

Building status* Average price    
November 2023 Annual price change % since November 2023 Monthly price change % since Oct 2023  
New build £422,000 16.3 8.9
Existing resold property £298,000 -2.7 -0.5

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices have risen by 2.5% since December 2023. An annual price fall of -3.9% takes the average property value to £518,000.

Average price by property type for London

Property type Jan 2024 Jan 2023 Difference %
Detached £1,035,000 £1,082,000 -4.3
Semi-detached £671,000 £694,000 -3.3
Terraced £561,000 £584,000 -3.9
Flat/maisonette £433,000 £451,000 -4.0
All £518,000 £539,000 -3.9

Funding and buyer status for London

Transaction type Average price    
Jan 2024 Annual price change % since Jan 2023 Monthly price change % since Dec 2023  
Cash £535,000 -4.6 3.2
Mortgage £512,000 -3.7 2.3
First-time buyer £446,000 -4.1 1.7
Former owner occupier £596,000 -3.5 3.6

Building status for London

Building status* Average price    
November 2023 Annual price change % since November 2023 Monthly price change % since Oct 2023  
New build £573,000 11.0 8.5
Existing resold property £519,000 -4.4 -0.8

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices have fallen by -0.1% since December 2023. An annual price fall of -0.8% takes the average property value to £213,000

There were 2 repossession sales for Wales in November 2023.

Average price by property type for Wales

Property type Jan 2024 Jan

Latest News from
HM Land Registry

WiredGov Survey Report: How Are Public Sector Budget Cuts Hurting Talent Acquisition?