How the average house price has changed in 2024 in your area
The cost of buying a home in the UK has continued to increase in the 12 months to October, according to the latest figures from the Land Registry, with the average house price now at £292,059. That’s an increase of 3.4% compared to a year earlier, equivalent to an extra £9,670 on each home.
In Wales, the data reveals that there has been an annual price increase of 4% taking the average property value to £222,000. The biggest increase of 6.2% has been within the flat sector, now with an average price of £149,000. There has been a 4.7% rise in terraced houses in Wales to £176,000, a 3.6% increase in semi-detached homes to £216,000 and a 2.5% climb in the detached homes sector.
Analysing the UK data reveals that two Welsh areas make the top five UK property rise hotspots. The Shetland Islands is top of the list with an average house price of £225,587, which is 28.2% higher than a year earlier, and a larger jump than any other local authority in the UK. For more property, renovation and interior design stories sent to your inbox twice a week sign up to the property newsletter here.
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Tewkesbury has seen the next largest growth in house prices, with the average property costing 12.6% more than it did a year earlier. That’s followed by Bridgend (10.8%), Blaenau Gwent (10.6%), and Blackburn with Darwen (10.5%).
Bridgend County showed the highest annual percentage change, rising by 10.8% to £227,000 in the 12 months to October 2024. This figure for Bridgend is closely followed by Blaenau Gwent at 10.6%, a rise from £126,120 in the average house price in October 2023 to £139,435 in October 2024, according to the ONS. Find out more about the areas in Wales with an increase in the average house price here.
Of the 22 local authority areas in Wales, 16 have shown an increase in average house prices in the 12 months to October 2024 with six counties experiencing a decline ranging from a negligible -0.2% in Monmouthshire to -5.1% in Gwynedd. Find out more about the areas in Wales with a decrease in the average house price here.
How has the average house price changed in your area?
Use our interactive map to see where prices have risen and fallen are also across the UK and within Wales too. Just click on your local authority area and the county's figures will appear.
Within a UK context, prices are falling in many areas though, with parts of London experiencing the biggest drops in the country. The average home in Kensington and Chelsea cost over £1.1 million in the year to October which, although still huge, is a fall of £285,480 per house compared to a year earlier, which works out as a drop of 20.3% and is the largest of any local authority in the UK.
The City of London has seen the next largest drop with homes costing 18.3% less than a year earlier and Hammersmith and Fulham has the next largest drop at 10.5%, then the figures leave London
North Devon has seen the next largest fall in average prices at 7.8%, followed by Camden with a drop of 6.2%, Gwynedd with a drop of 5.1%, the Isle of Wight with a drop of 5.0%, Islington with a drop of 4.9% and the City of Westminster with a drop of 4.4%.
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