UK house prices jump by £3,000 in September 2024

UK home prices rose by 0.8% in September, increasing by £2,974 to an average of £370,759.

This monthly increase is double the long-term average for September.

The rise is attributed to a rebound in market activity compared to last year’s slower pace.

Mortgage rates have decreased, and buyer choices have expanded, with earnings growing faster than inflation and house prices.

The North East saw the highest annual price growth at 5%, with average prices now £193,706.

The East of England and South West experienced slight year-on-year declines, with average prices at £418,110 and £387,389, respectively.

London remains the most expensive, with average property prices at £682,375, up 1.4% from the previous year.

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