UK house prices stable with inflation at 2.7% in year leading to June says ONS




The average UK house price annual inflation was 2.7% (provisional estimate) in the 12 months leading to June 2024, according to the ONS HPI.

Between May and June 2024 (non-seasonally adjusted) prices increased by 0.5%, with little change from the same period 12 months ago.

The average UK house price was at £288,000 in June of this year, an £8,000 rise from 12 months ago.

During this time period England saw average house prices increase by 2.4% to £305,000, in Wales the average price rose by 1.8% to £216,000, while in Scotland prices increased by 4.3% to £192,000.


In Northern Ireland the average house price increased in the year to Q2 (April to June) 2024 to £185,000.

According to the UK property transaction statistics for June 2024, the seasonally adjusted estimated number of residential properties valued at £40,000 and over was at 91,000, an 8% increase from a year ago, despite this the number of UK transactions decreased slightly between May 2024 and June 2024 by 0.6% (seasonally adjusted).

 

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