Yopa analysed the latest Gov UK house price figures looking at the rate of house price growth seen since January, with the data showing that across the UK as a whole, house prices are up 5.1% so far in 2024.
Regionally the North East tops the table having seen a jump of 7.3% versus 1.4% in London - the region with the lowest rate of growth.
However, when it comes to the house price winners in 2024, it’s one area of Northern Ireland that tops the table. The Northern Irish area of Causeway Coast and Glens has seen the average house price climb by a huge 13.8% since the start of the year alone, the highest rate of growth in the UK.
Oxford ranks second where house prices are up 12.5%, with Blackburn with Darwen sitting third with a 12.1% increase.
Other areas to make the top 10 include Clackmannanshire (11.5%), Tewkesbury (11.2%), Tower Hamlets (11%), Moray (10.8%), Renfrewshire (10.2%), East Renfrewshire (10%) and Bassetlaw (9.8%).
When it comes to the property market losers in 2024, London accounts for 50% of the top 10.
The biggest reduction in house prices since the start of this year has been seen across the City of London with a fall of -14.5%.
Kensington and Chelsea has seen the average house price fall by -12.5%, whilst across Westminster property values are down -10%.
Other areas to make the top 10 largest reductions include the Western Isles (-6%), Camden (-4.7%), Gwynedd (-4.5%), the Isle of Wight (-4.4%), South Hams (-4.3%), Hammersmith and Fulham (-3%) and Worthing (-2.3%).
CEO of Yopa, Verona Frankish, commented:
“Despite the ongoing challenges faced, particularly with respect to higher mortgage rates, it’s been a largely positive year for the UK property market.
"We’ve seen buyers returning, more offers being made and accepted and house prices rising consistently throughout the year.
"In fact, property values have climbed notably across many areas of the market and the top 10 highest rates of growth include areas from the length and breadth of the UK.
"Not such great news if you live in London’s high-end neighbourhoods though, with prime boroughs accounting for half of the worst performing areas in 2024.”
