The UK regions where house prices have jumped the most - is yours on the list?

The UK regions where house prices have jumped the most - is yours on the list?

Liam Halligan discusses house prices On The Money

GB News
Sarra Gray

By Sarra Gray

Published: 05/01/2024

- 09:23

Updated: 05/01/2024

- 09:24

The parts of the UK where house prices have increased the most in the last year have been shared

Homeowners will want to make sure they get the best price for their home when selling up.

Some UK regions have seen house prices soar in the last year, according to the Halifax House Price Index.

The data released today suggests there has been growth in four UK regions.

Properties in Northern Ireland have increased the most with an average price of £192,153 at the end of 2023.

Northern Ireland

Northern Ireland had the biggest house price increase


This is up 4.1 per cent, or around £7,595, in December 2022.

Houses in Scotland had the second biggest increase over the year.

The average property now costs £205,170, which is a jump of 2.6 per cent or £5,277.

It wasn't all good news for the property market, however, as homes in the South East and London both saw their value dip.

Homes in the South East dropped by £17,755 to an average of £376,804, and London houses dropped 2.3 per cent to around £528,798.

UK house price changes

Northern Ireland (+4.1 per cent)

Scotland (+2.6 per cent)

Yorkshire (+0.1 per cent)

North West (+0.3 per cent)

South East (-4.5 per cent)

London (-2.3 per cent)

Falkirk Scotland

Property in Scotland also increased


Director of Halifax Mortgages Kim Kinnaird said: “In December, the cost of an average UK home rose for the third month in a row to £287,105, up +1.1 per cent or £3,066, in November, reaching the highest level since March 2023.

“The housing market beat expectations in 2023 and grew by +1.7 per cent on an annual basis. The average property price is now £4,800 higher than it was in December 2022. Whilst it’s encouraging that we saw growth in the last three months of the year, this was preceded with property price falls for six consecutive months between April and September.

"The growth we have seen is likely being driven by a shortage of properties on the market, rather than the strength of buyer demand. That said, with mortgage rates continuing to ease, we may see an increase in confidence from buyers over the coming months.

“Across all the UK regions, Northern Ireland recorded the strongest house price growth on in 2023, properties here increased by +4.1 per cent to £192,153. Scotland saw property prices increase by +2.6 per cent to £205,170.

"At the other end of the scale, the South East fell most sharply, houses here now average £376,804 (-4.5 per cent), a drop of –£17,755."

This comes as experts shared where house prices are most likely to rise in 2024.

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