Average home values up £10k since 2023

February 14, 2025

The Office for National Statistics (ONS) reported UK house prices increased by an average of £10,000 in the year to October 2024. The report showed the value of a typical home to be an estimated £292,000, an annual increase of 3.4% compared to £282,000 recorded in October 2023.

In England the average house price increased by 3% year-on-year to £309,000. The highest regional increase was in Northern Ireland, where prices rose by 6.2% to £191,000. In Scotland, prices rose by 5.5% to £197,000, while in Wales there was a 4% increase to average house prices to £222,000.
However, monthly, property prices fell on average. In London, average property values were £7,000 lower between September and October, taking average prices in the capital down from £531,000 in August to £520,000 in October.

With over 20 years of experience in the mortgage industry, Ste Froom has dedicated his career to helping people navigate the often complex journey of securing the right mortgage.