UK house prices: Predictions for 2024 and beyond

House prices are predicted to drop by 3% in 2024, but grow by 17.9% overall by 2028.

We take a look at what is happening with UK house prices, including expert predictions for 2024 and the coming years, and how this will impact mortgages.

House price predictions: Quick overview

  • House prices are predicted to drop by 3% in 2024, but recover with growth of 3.5% in 2025.
  • Overall, house prices are expected to see growth of 17.9% by 2028.
  • House prices fell by 2.1% in the year leading up to November 2023.
  • The Nationwide house price index recorded a 1.8% drop in house prices in the year to December 2023, but the Halifax index recorded 1.7% growth.
  • The average house price in the UK stands at £285,000 as of November 2023.
  • Mortgage approvals were down 26% year-on-year in November 2023.
  • Average house prices exceed the Help to Buy ISA limit in 38% of UK local authorities and this is expected to rise to 58% by 2028.
  • Average prices are expected to exceed the Help to Buy ISA limit in 4 out of 5 London boroughs by 2028.

Will house prices go down in 2024?

The latest data from the ONS UK House Price Index shows that the average house price in November 2023 was £285,000, a fall of 2.1% from November 2022. The growth in house prices had been slowing after peaking at 13.8% year-on-year growth in July 2022, and now house prices are falling year-on-year.

Month Average UK house price
Oct 2021 £263,333
Nov 2021 £267,370
Dec 2021 £268,115
Jan 2022 £272,738
Feb 2022 £272,454
Mar 2022 £273,787
Apr 2022 £276,917
May 2022 £280,433
Jun 2022 £282,777
Jul 2022 £288,156
Aug 2022 £290,541
Sep 2022 £291,716
Oct 2022 £291,193
Nov 2022 £291,217
Dec 2022 £289,356
Jan 2023 £286,072
Feb 2023 £283,769
Mar 2023 £280,884
Apr 2023 £281,460
May 2023 £282,401
Jun 2023 £284,507
Jul 2023 £287,764
Aug 2023 £292,049
Sep 2023 £289,923
Oct 2023 £287,782

The annual growth in house prices has been slowing over the past year, according to the ONS index, which is considered the most reliable. In November 2023, the year-on-year fall in house prices was at the fastest pace since 2011.

Month Annual percentage change in house prices
Oct 2021 8.10%
Nov 2021 8.70%
Dec 2021 8.10%
Jan 2022 9.20%
Feb 2022 9.20%
Mar 2022 8.00%
Apr 2022 10.70%
May 2022 11.60%
Jun 2022 6.40%
Jul 2022 13.80%
Aug 2022 11.50%
Sep 2022 8.50%
Oct 2022 10.60%
Nov 2022 8.90%
Dec 2022 7.90%
Jan 2023 4.90%
Feb 2023 4.10%
Mar 2023 2.60%
Apr 2023 1.60%
May 2023 0.70%
Jun 2023 0.60%
Jul 2023 -0.10%
Aug 2023 0.50%
Sep 2023 -0.60%
Oct 2023 -1.20%

UK house price predictions for 2024-2028

According to forecasts from Savills, house prices are expected to drop by 3% year-on-year in 2024. However, 2025 will see a rebound in performance, with house prices predicted to grow by 3.5% from 2024 prices.

Growth is forecast to be even stronger in the following years, with 5% growth expected in 2026, 6.5% growth expected in 2027 and 5% growth expected in 2028. Overall, house prices are expected to see growth of 17.9% by 2028.

Year Yearly percentage change for UK house prices
2024 -3.00%
2025 3.50%
2026 5.00%
2027 6.50%
2028 5.00%
Total by 2028 17.90%

How do these house price predictions impact first-time buyers?

According to analysis from Finder, this predicted rise in house prices means that well over half (58%) of local authorities in the UK will have an average house price above £250,000 by 2028, which is the Help to Buy ISA limit.

The research analysed the average house price for first-time buyers in different areas of the UK, and forecast the growth of these prices between now and 2028 based on market predictions. This data was used to reveal where first-time buyers may be unable to use their Help to Buy ISAs to purchase the average property.

A Help to Buy ISA is a government scheme that allows people to save up to £200 a month, with the government adding a 25% bonus on savings up to the limit of £12,000 if you use the savings to buy a house. It can be used to purchase property up to £250,000 or up to £450,000 in London.

Help to Buy ISAs: UK limit is £250k

The research found that average house prices in 132 of 348 local authorities (38%) are above the Help to Buy ISA limit in 2024. This is predicted to rise to 149 (43%) in 2025, 164 (47%) in 2026 and 182 (52%) in 2027. By 2028, well over half of local authorities will have average house prices that are above the Help to Buy ISA limit.

Below, you can explore how this will affect first-time buyers with a Help to Buy ISA over time.

Local Authority Average price 2023 Estimated price 2024 Estimated price 2025 Estimated price 2026 Estimated price 2027 Estimated price 2028
Aberdeenshire £155,633 £150,964 £156,248 £164,060 £174,724 £183,460
Adur £320,859 £311,233 £322,126 £338,233 £360,218 £378,229
Amber Valley £200,274 £194,266 £201,065 £211,118 £224,841 £236,083
Angus £132,567 £128,590 £133,091 £139,745 £148,828 £156,270
Argyll and Bute £145,889 £141,512 £146,465 £153,788 £163,785 £171,974
Arun £280,472 £272,058 £281,580 £295,659 £314,877 £330,621
Ashfield £168,249 £163,202 £168,914 £177,360 £188,888 £198,333
Ashford £301,640 £292,591 £302,832 £317,973 £338,641 £355,573
Babergh £269,293 £261,214 £270,357 £283,875 £302,327 £317,443
Barnsley £142,135 £137,871 £142,697 £149,832 £159,571 £167,549
Basildon £311,733 £302,381 £312,964 £328,612 £349,972 £367,471
Basingstoke and Deane £281,954 £273,495 £283,067 £297,221 £316,540 £332,367
Bassetlaw £165,270 £160,312 £165,923 £174,219 £185,543 £194,820
Bath and North East Somerset £370,011 £358,910 £371,472 £390,046 £415,399 £436,169
Bedford £281,002 £272,572 £282,112 £296,218 £315,472 £331,245
Birmingham £201,476 £195,431 £202,271 £212,385 £226,190 £237,500
Blaby district £255,996 £248,316 £257,008 £269,858 £287,399 £301,769
Blackburn with Darwen £127,379 £123,558 £127,882 £134,277 £143,005 £150,155
Blackpool £118,327 £114,777 £118,795 £124,734 £132,842 £139,484
Blaenau Gwent £122,349 £118,679 £122,832 £128,974 £137,357 £144,225
Bolsover £156,018 £151,338 £156,634 £164,466 £175,156 £183,914
Bolton £154,882 £150,235 £155,494 £163,268 £173,881 £182,575
Boston £169,983 £164,884 £170,655 £179,188 £190,835 £200,377
Bournemouth Christchurch and Poole £258,621 £250,862 £259,642 £272,625 £290,345 £304,862
Bracknell Forest £320,620 £311,001 £321,886 £337,981 £359,949 £377,947
Bradford £152,077 £147,515 £152,678 £160,311 £170,732 £179,268
Braintree £288,301 £279,652 £289,440 £303,912 £323,666 £339,849
Breckland £239,290 £232,111 £240,235 £252,247 £268,643 £282,075
Brentwood £362,877 £351,991 £364,311 £382,526 £407,390 £427,760
Bridgend £178,452 £173,098 £179,157 £188,115 £200,342 £210,359
Brighton and Hove £380,046 £368,645 £381,547 £400,625 £426,665 £447,999
Broadland £282,579 £274,102 £283,696 £297,880 £317,243 £333,105
Bromsgrove £270,476 £262,362 £271,544 £285,122 £303,654 £318,837
Broxbourne £336,229 £326,142 £337,557 £354,435 £377,473 £396,347
Broxtowe £215,751 £209,279 £216,603 £227,434 £242,217 £254,328
Buckinghamshire £347,249 £336,831 £348,620 £366,051 £389,845 £409,337
Burnley £101,559 £98,512 £101,960 £107,058 £114,017 £119,718
Bury £197,396 £191,474 £198,176 £208,085 £221,610 £232,691
Caerphilly £164,055 £159,133 £164,703 £172,938 £184,179 £193,388
Calderdale £156,420 £151,727 £157,038 £164,889 £175,607 £184,388
Cambridge £432,793 £419,809 £434,503 £456,228 £485,883 £510,177
Cannock Chase £196,624 £190,725 £197,401 £207,271 £220,744 £231,781
Canterbury £302,514 £293,438 £303,709 £318,894 £339,622 £356,603
Cardiff £229,246 £222,368 £230,151 £241,659 £257,367 £270,235
Carmarthenshire £181,263 £175,826 £181,979 £191,078 £203,499 £213,673
Castle Point £312,788 £303,404 £314,023 £329,724 £351,157 £368,714
Central Bedfordshire £303,959 £294,840 £305,160 £320,418 £341,245 £358,307
Ceredigion £223,267 £216,569 £224,149 £235,356 £250,654 £263,187
Charnwood £243,304 £236,005 £244,265 £256,479 £273,150 £286,807
Chelmsford £308,806 £299,542 £310,026 £325,527 £346,686 £364,021
Cheltenham £276,330 £268,040 £277,421 £291,292 £310,226 £325,738
Cherwell £298,892 £289,925 £300,073 £315,076 £335,556 £352,334
Cheshire East £222,541 £215,864 £223,420 £234,591 £249,839 £262,331
Cheshire West and Chester £216,038 £209,557 £216,891 £227,736 £242,539 £254,666
Chesterfield £165,602 £160,634 £166,256 £174,569 £185,916 £195,211
Chichester £353,494 £342,889 £354,890 £372,635 £396,856 £416,699
Chorley £183,055 £177,564 £183,778 £192,967 £205,510 £215,786
Aberdeen City £111,838 £108,483 £112,280 £117,894 £125,557 £131,834
Bristol, City of £316,968 £307,459 £318,220 £334,131 £355,850 £373,642
Derby £177,758 £172,425 £178,460 £187,383 £199,563 £209,541
Dundee City £120,959 £117,330 £121,437 £127,509 £135,797 £142,587
City of Edinburgh £260,910 £253,083 £261,941 £275,038 £292,916 £307,561
Glasgow City £151,808 £147,254 £152,408 £160,028 £170,430 £178,952
Kingston upon Hull, City of £123,666 £119,956 £124,154 £130,362 £138,835 £145,777
City of London £949,018 £920,547 £952,766 £1,000,405 £1,065,431 £1,118,702
Nottingham £175,762 £170,489 £176,457 £185,279 £197,323 £207,189
Peterborough £204,098 £197,975 £204,904 £215,150 £229,134 £240,591
Plymouth £194,085 £188,263 £194,852 £204,595 £217,893 £228,788
Clackmannanshire £123,273 £119,575 £123,760 £129,948 £138,395 £145,314
Colchester £267,922 £259,884 £268,980 £282,429 £300,787 £315,827
Conwy £183,181 £177,685 £183,904 £193,099 £205,651 £215,933
Cornwall £255,135 £247,481 £256,142 £268,949 £286,431 £300,753
Cotswold £365,329 £354,369 £366,772 £385,110 £410,142 £430,649
County Durham £111,587 £108,239 £112,027 £117,629 £125,275 £131,538
Coventry £199,209 £193,233 £199,996 £209,996 £223,645 £234,828
Crawley £292,079 £283,317 £293,233 £307,895 £327,908 £344,303
Cumberland £140,557 £136,340 £141,112 £148,168 £157,798 £165,688
Dacorum £368,398 £357,346 £369,854 £388,346 £413,589 £434,268
Darlington £136,092 £132,009 £136,629 £143,461 £152,786 £160,425
Dartford £320,232 £310,625 £321,497 £337,572 £359,514 £377,490
Denbighshire £178,542 £173,185 £179,247 £188,209 £200,443 £210,465
Derbyshire Dales £277,060 £268,748 £278,154 £292,062 £311,046 £326,598
Doncaster £145,587 £141,219 £146,162 £153,470 £163,446 £171,618
Dorset £280,172 £271,767 £281,279 £295,343 £314,540 £330,267
Dover £266,139 £258,155 £267,191 £280,550 £298,786 £313,725
Dudley £201,820 £195,766 £202,617 £212,748 £226,577 £237,906
Dumfries and Galloway £136,348 £132,257 £136,886 £143,730 £153,073 £160,727
East Ayrshire £98,729 £95,767 £99,119 £104,075 £110,839 £116,381
East Cambridgeshire £299,954 £290,955 £301,139 £316,196 £336,749 £353,586
East Devon £278,841 £270,476 £279,943 £293,940 £313,046 £328,698
East Dunbartonshire £191,157 £185,423 £191,913 £201,508 £214,606 £225,337
East Hampshire £329,769 £319,876 £331,072 £347,626 £370,221 £388,732
East Hertfordshire £340,480 £330,266 £341,825 £358,917 £382,246 £401,358
East Lindsey £194,471 £188,636 £195,239 £205,001 £218,326 £229,242
East Lothian £235,374 £228,313 £236,304 £248,119 £264,247 £277,459
East Renfrewshire £208,344 £202,094 £209,167 £219,626 £233,901 £245,596
East Riding of Yorkshire £181,608 £176,160 £182,325 £191,441 £203,885 £214,079
East Staffordshire £184,054 £178,532 £184,781 £194,020 £206,631 £216,963
East Suffolk £240,459 £233,245 £241,408 £253,479 £269,955 £283,453
Eastbourne £253,166 £245,571 £254,166 £266,874 £284,221 £298,432
Eastleigh £269,959 £261,861 £271,026 £284,577 £303,075 £318,228
Elmbridge £462,209 £448,343 £464,035 £487,237 £518,907 £544,852
Epping Forest £394,600 £382,762 £396,159 £415,967 £443,005 £465,155
Epsom and Ewell £407,808 £395,574 £409,419 £429,890 £457,832 £480,724
Erewash £192,739 £186,957 £193,501 £203,176 £216,382 £227,201
Exeter £270,397 £262,285 £271,465 £285,039 £303,566 £318,744
Falkirk £132,170 £128,205 £132,692 £139,326 £148,383 £155,802
Fareham £279,623 £271,234 £280,727 £294,764 £313,924 £329,620
Fenland £198,164 £192,219 £198,947 £208,894 £222,472 £233,596
Fife £136,021 £131,940 £136,558 £143,386 £152,706 £160,342
Flintshire £181,895 £176,438 £182,613 £191,744 £204,207 £214,417
Folkestone and Hythe £259,902 £252,105 £260,928 £273,975 £291,783 £306,372
Forest of Dean £252,523 £244,947 £253,521 £266,197 £283,499 £297,674
Fylde £187,705 £182,073 £188,446 £197,868 £210,730 £221,266
Gateshead £134,084 £130,061 £134,613 £141,344 £150,531 £158,058
Gedling £205,531 £199,366 £206,343 £216,661 £230,743 £242,281
Gloucester £209,633 £203,344 £210,461 £220,985 £235,349 £247,116
Gosport £233,661 £226,651 £234,584 £246,313 £262,323 £275,439
Gravesham £287,063 £278,451 £288,197 £302,607 £322,276 £338,390
Great Yarmouth £179,876 £174,479 £180,586 £189,615 £201,940 £212,037
Guildford £396,684 £384,783 £398,251 £418,163 £445,344 £467,611
Gwynedd £177,371 £172,050 £178,071 £186,975 £199,128 £209,085
Halton £156,424 £151,731 £157,041 £164,894 £175,612 £184,392
Harborough £296,182 £287,297 £297,352 £312,220 £332,514 £349,140
Harlow £289,149 £280,474 £290,291 £304,806 £324,618 £340,849
Hart £370,152 £359,047 £371,614 £390,195 £415,557 £436,335
Hartlepool £111,867 £108,511 £112,309 £117,924 £125,589 £131,869
Hastings £250,337 £242,827 £251,326 £263,892 £281,045 £295,098
Havant £272,113 £263,949 £273,187 £286,847 £305,492 £320,767
Herefordshire £229,608 £222,720 £230,515 £242,041 £257,773 £270,662
Hertsmere £430,316 £417,407 £432,016 £453,617 £483,102 £507,257
High Peak £210,736 £204,414 £211,568 £222,146 £236,586 £248,415
Highland £163,693 £158,782 £164,339 £172,556 £183,772 £192,961
Hinckley and Bosworth £237,327 £230,208 £238,265 £250,178 £266,440 £279,762
Horsham £329,418 £319,536 £330,719 £347,255 £369,827 £388,318
Huntingdonshire £252,433 £244,860 £253,430 £266,101 £283,398 £297,568
Hyndburn £111,355 £108,015 £111,795 £117,385 £125,015 £131,266
Inverclyde £97,670 £94,740 £98,056 £102,959 £109,651 £115,134
Ipswich £205,617 £199,448 £206,429 £216,750 £230,839 £242,381
Isle of Anglesey £193,558 £187,751 £194,323 £204,039 £217,301 £228,166
Isle of Wight £231,129 £224,195 £232,042 £243,644 £259,481 £272,455
King's Lynn and West Norfolk £230,329 £223,419 £231,239 £242,801 £258,583 £271,512
Kirklees £163,262 £158,364 £163,907 £172,102 £183,289 £192,453
Knowsley £155,847 £151,172 £156,463 £164,286 £174,965 £183,713
Lancaster £173,942 £168,724 £174,629 £183,361 £195,279 £205,043
Leeds £200,960 £194,931 £201,754 £211,842 £225,612 £236,892
Leicester £211,242 £204,905 £212,076 £222,680 £237,154 £249,012
Lewes £319,466 £309,882 £320,728 £336,765 £358,654 £376,587
Lichfield £246,856 £239,450 £247,831 £260,222 £277,137 £290,994
Lincoln £161,169 £156,334 £161,805 £169,896 £180,939 £189,986
Liverpool £155,900 £151,223 £156,516 £164,341 £175,024 £183,775
Luton £246,957 £239,548 £247,933 £260,329 £277,251 £291,113
Maidstone £276,461 £268,167 £277,553 £291,430 £310,373 £325,892
Maldon £313,241 £303,844 £314,478 £330,202 £351,665 £369,248
Malvern Hills £272,487 £264,313 £273,563 £287,242 £305,912 £321,208
Manchester £208,552 £202,296 £209,376 £219,845 £234,135 £245,842
Mansfield £160,024 £155,223 £160,656 £168,689 £179,653 £188,636
Medway £267,036 £259,025 £268,091 £281,496 £299,793 £314,783
Melton £254,456 £246,822 £255,461 £268,234 £285,669 £299,953
Merthyr Tydfil £139,021 £134,851 £139,570 £146,549 £156,075 £163,878
Mid Devon £245,337 £237,977 £246,306 £258,622 £275,432 £289,204
Mid Suffolk £247,064 £239,652 £248,040 £260,442 £277,371 £291,240
Mid Sussex £344,507 £334,172 £345,868 £363,162 £386,767 £406,105
Middlesbrough £118,439 £114,886 £118,907 £124,852 £132,968 £139,616
Midlothian £188,598 £182,940 £189,343 £198,810 £211,733 £222,319
Milton Keynes £256,837 £249,132 £257,851 £270,744 £288,342 £302,759
Mole Valley £393,231 £381,434 £394,784 £414,524 £441,468 £463,541
Monmouthshire £274,795 £266,551 £275,881 £289,675 £308,504 £323,929
Moray £157,188 £152,473 £157,809 £165,700 £176,470 £185,294
Na h-Eileanan Siar £137,021 £132,910 £137,562 £144,440 £153,829 £161,520
Neath Port Talbot £153,470 £148,866 £154,076 £161,780 £172,296 £180,910
New Forest £304,110 £294,986 £305,311 £320,576 £341,414 £358,485
Newark and Sherwood £188,508 £182,853 £189,253 £198,716 £211,632 £222,214
Newcastle upon Tyne £166,631 £161,632 £167,289 £175,654 £187,071 £196,425
Newcastle-under-Lyme £169,849 £164,753 £170,519 £179,045 £190,683 £200,218
Newport £200,788 £194,765 £201,581 £211,660 £225,418 £236,689
North Ayrshire £101,595 £98,547 £101,996 £107,096 £114,057 £119,760
North Devon £254,710 £247,069 £255,716 £268,502 £285,955 £300,253
North East Derbyshire £201,797 £195,743 £202,594 £212,723 £226,551 £237,878
North East Lincolnshire £133,315 £129,316 £133,842 £140,534 £149,669 £157,152
North Hertfordshire £308,371 £299,120 £309,589 £325,068 £346,198 £363,508
North Kesteven £224,611 £217,873 £225,499 £236,774 £252,164 £264,772
North Lanarkshire £110,459 £107,145 £110,895 £116,440 £124,008 £130,209
North Lincolnshire £157,900 £153,163 £158,524 £166,450 £177,269 £186,133
North Norfolk £257,471 £249,747 £258,488 £271,412 £289,054 £303,507
North Northamptonshire £228,083 £221,240 £228,984 £240,433 £256,061 £268,864
North Somerset £272,132 £263,968 £273,207 £286,867 £305,514 £320,789
North Tyneside £173,760 £168,547 £174,446 £183,169 £195,075 £204,829
North Warwickshire £216,943 £210,435 £217,800 £228,690 £243,555 £255,733
North West Leicestershire £222,132 £215,469 £223,010 £234,160 £249,381 £261,850
North Yorkshire £225,997 £219,217 £226,890 £238,235 £253,720 £266,406
Northumberland £156,253 £151,566 £156,870 £164,714 £175,420 £184,191
Norwich £218,389 £211,838 £219,252 £230,215 £245,178 £257,437
Nuneaton and Bedworth £203,264 £197,166 £204,067 £214,271 £228,198 £239,608
Oadby and Wigston £242,351 £235,080 £243,308 £255,474 £272,079 £285,683
Oldham £169,689 £164,598 £170,359 £178,877 £190,504 £200,030
Orkney Islands £180,493 £175,079 £181,206 £190,267 £202,634 £212,766
Oxford £417,140 £404,626 £418,788 £439,727 £468,309 £491,725
Pembrokeshire £209,567 £203,280 £210,395 £220,914 £235,274 £247,038
Pendle £116,008 £112,528 £116,467 £122,290 £130,239 £136,751
Perth and Kinross £175,704 £170,432 £176,398 £185,217 £197,257 £207,119
Portsmouth £236,194 £229,108 £237,127 £248,983 £265,167 £278,425
Powys £212,399 £206,027 £213,238 £223,900 £238,454 £250,377
Preston £131,189 £127,253 £131,707 £138,293 £147,282 £154,646
Reading £290,581 £281,864 £291,729 £306,315 £326,226 £342,537
Redcar and Cleveland £137,744 £133,612 £138,288 £145,202 £154,641 £162,373
Redditch £218,817 £212,253 £219,682 £230,666 £245,659 £257,942
Reigate and Banstead £365,467 £354,503 £366,910 £385,256 £410,298 £430,813
Renfrewshire £122,793 £119,109 £123,278 £129,442 £137,856 £144,748
Rhondda Cynon Taf £139,245 £135,067 £139,795 £146,784 £156,325 £164,142
Ribble Valley £219,598 £213,010 £220,465 £231,488 £246,535 £258,862
Rochdale £169,553 £164,466 £170,223 £178,734 £190,352 £199,869
Rochford £340,258 £330,050 £341,602 £358,682 £381,997 £401,097
Rossendale £159,782 £154,989 £160,413 £168,434 £179,382 £188,351
Rother £292,144 £283,379 £293,298 £307,963 £327,980 £344,379
Rotherham £156,630 £151,931 £157,249 £165,111 £175,844 £184,636
Rugby £239,126 £231,952 £240,070 £252,074 £268,459 £281,882
Runnymede £377,879 £366,542 £379,371 £398,340 £424,232 £445,444
Rushcliffe £276,351 £268,061 £277,443 £291,315 £310,251 £325,763
Rushmoor £289,350 £280,669 £290,493 £305,017 £324,843 £341,086
Rutland £303,340 £294,240 £304,538 £319,765 £340,550 £357,577
Salford £187,580 £181,952 £188,321 £197,737 £210,589 £221,119
Sandwell £182,218 £176,752 £182,938 £192,085 £204,571 £214,799
Scottish Borders £154,036 £149,415 £154,645 £162,377 £172,932 £181,578
Sefton £168,893 £163,826 £169,560 £178,038 £189,611 £199,091
Sevenoaks £411,368 £399,027 £412,993 £433,642 £461,829 £484,920
Sheffield £184,176 £178,651 £184,904 £194,149 £206,769 £217,107
Shetland Islands £170,671 £165,551 £171,345 £179,913 £191,607 £201,187
Shropshire £221,462 £214,819 £222,337 £233,454 £248,629 £261,060
Slough £286,390 £277,798 £287,521 £301,897 £321,520 £337,596
Solihull £264,499 £256,564 £265,544 £278,821 £296,944 £311,792
Somerset £242,827 £235,542 £243,786 £255,975 £272,613 £286,244
South Ayrshire £129,085 £125,212 £129,595 £136,075 £144,919 £152,165
South Cambridgeshire £367,919 £356,881 £369,372 £387,841 £413,051 £433,703
South Derbyshire £212,436 £206,063 £213,275 £223,939 £238,495 £250,420
South Gloucestershire £295,338 £286,478 £296,505 £311,330 £331,567 £348,145
South Hams £328,930 £319,062 £330,229 £346,741 £369,279 £387,743
South Holland £199,552 £193,565 £200,340 £210,357 £224,030 £235,232
South Kesteven £223,126 £216,432 £224,007 £235,208 £250,496 £263,021
South Lanarkshire £125,531 £121,765 £126,027 £132,328 £140,929 £147,976
South Norfolk £280,546 £272,130 £281,655 £295,737 £314,960 £330,708
South Oxfordshire £409,815 £397,520 £411,433 £432,005 £460,085 £483,090
South Ribble £178,541 £173,185 £179,246 £188,208 £200,442 £210,464
South Staffordshire £249,158 £241,684 £250,143 £262,650 £279,722 £293,708
South Tyneside £142,358 £138,088 £142,921 £150,067 £159,821 £167,812
Southampton £220,378 £213,766 £221,248 £232,311 £247,411 £259,781
Southend-on-Sea £278,322 £269,972 £279,421 £293,392 £312,463 £328,086
Spelthorne £360,131 £349,327 £361,554 £379,631 £404,307 £424,523
St Albans £441,141 £427,907 £442,884 £465,028 £495,255 £520,018
St. Helens £161,176 £156,340 £161,812 £169,903 £180,946 £189,994
Stafford £218,434 £211,881 £219,297 £230,262 £245,229 £257,490
Staffordshire Moorlands £188,330 £182,680 £189,074 £198,528 £211,432 £222,004
Stevenage £289,697 £281,006 £290,841 £305,383 £325,233 £341,495
Stirling £175,210 £169,954 £175,902 £184,697 £196,703 £206,538
Stockport £238,945 £231,776 £239,889 £251,883 £268,255 £281,668
Stockton-on-Tees £141,153 £136,918 £141,710 £148,796 £158,468 £166,391
Stoke-on-Trent £131,754 £127,802 £132,275 £138,889 £147,916 £155,312
Stratford-on-Avon £301,800 £292,746 £302,993 £318,142 £338,821 £355,762
Stroud £263,551 £255,644 £264,592 £277,821 £295,880 £310,674
Sunderland £119,811 £116,217 £120,284 £126,298 £134,508 £141,233
Surrey Heath £329,690 £319,800 £330,992 £347,542 £370,132 £388,639
Swale £255,705 £248,034 £256,715 £269,551 £287,072 £301,425
Swansea £173,141 £167,947 £173,825 £182,516 £194,380 £204,099
Swindon £231,330 £224,390 £232,244 £243,856 £259,707 £272,692
Tameside £185,778 £180,205 £186,512 £195,838 £208,567 £218,995
Tamworth £203,058 £196,966 £203,860 £214,053 £227,966 £239,364
Tandridge £388,266 £376,618 £389,799 £409,289 £435,893 £457,688
Teignbridge £257,022 £249,311 £258,037 £270,939 £288,550 £302,977
Telford and Wrekin £183,647 £178,137 £184,372 £193,591 £206,174 £216,483
Tendring £232,665 £225,685 £233,584 £245,263 £261,205 £274,265
Test Valley £314,668 £305,228 £315,911 £331,707 £353,268 £370,931
Tewkesbury £269,541 £261,454 £270,605 £284,136 £302,604 £317,735
Thanet £261,166 £253,331 £262,198 £275,308 £293,203 £307,863
Three Rivers £439,040 £425,868 £440,774 £462,813 £492,895 £517,540
Thurrock £290,065 £281,363 £291,211 £305,772 £325,647 £341,929
Tonbridge and Malling £347,171 £336,756 £348,542 £365,969 £389,757 £409,245
Torbay £223,653 £216,943 £224,536 £235,763 £251,088 £263,642
Torfaen £167,866 £162,830 £168,529 £176,956 £188,458 £197,881
Torridge £253,680 £246,070 £254,682 £267,416 £284,798 £299,038
Trafford £300,003 £291,003 £301,188 £316,247 £336,803 £353,644
Tunbridge Wells £358,910 £348,142 £360,327 £378,344 £402,936 £423,083
Uttlesford £356,853 £346,148 £358,263 £376,176 £400,627 £420,659
Vale of Glamorgan £255,920 £248,242 £256,931 £269,778 £287,313 £301,679
Vale of White Horse £332,268 £322,300 £333,581 £350,260 £373,026 £391,678
Wakefield £173,748 £168,535 £174,434 £183,156 £195,061 £204,814
Walsall £188,086 £182,444 £188,829 £198,271 £211,158 £221,716
Warrington £213,722 £207,310 £214,566 £225,295 £239,939 £251,936
Warwick £296,252 £287,365 £297,423 £312,294 £332,593 £349,223
Watford £347,397 £336,975 £348,769 £366,207 £390,011 £409,511
Waverley £396,638 £384,739 £398,205 £418,115 £445,292 £467,557
Wealden £330,930 £321,002 £332,237 £348,849 £371,524 £390,100
Welwyn Hatfield £348,231 £337,784 £349,606 £367,086 £390,947 £410,494
West Berkshire £324,109 £314,386 £325,390 £341,659 £363,867 £382,060
West Devon £242,373 £235,101 £243,330 £255,496 £272,104 £285,709
West Dunbartonshire £115,443 £111,979 £115,899 £121,694 £129,604 £136,084
West Lancashire £184,414 £178,882 £185,143 £194,400 £207,036 £217,388
West Lindsey £174,117 £168,893 £174,805 £183,545 £195,475 £205,249
West Lothian £164,843 £159,897 £165,494 £173,768 £185,063 £194,317
West Northamptonshire £245,642 £238,273 £246,613 £258,943 £275,775 £289,563
West Oxfordshire £332,000 £322,040 £333,311 £349,977 £372,725 £391,361
West Suffolk £252,424 £244,851 £253,421 £266,092 £283,388 £297,557
Westmorland and Furness £189,130 £183,456 £189,877 £199,371 £212,330 £222,946
Wigan £162,699 £157,818 £163,342 £171,509 £182,657 £191,790
Wiltshire £265,313 £257,353 £266,361 £279,679 £297,858 £312,751
Winchester £375,769 £364,496 £377,253 £396,116 £421,864 £442,957
Windsor and Maidenhead £415,979 £403,499 £417,622 £438,503 £467,005 £490,356
Wirral £171,875 £166,718 £172,554 £181,181 £192,958 £202,606
Woking £350,465 £339,951 £351,849 £369,442 £393,456 £413,128
Wokingham £394,904 £383,057 £396,464 £416,288 £443,346 £465,514
Wolverhampton £177,750 £172,417 £178,452 £187,374 £199,554 £209,531
Worcester £220,069 £213,467 £220,938 £231,985 £247,064 £259,417
Worthing £282,088 £273,625 £283,202 £297,362 £316,691 £332,525
Wrexham £176,738 £171,436 £177,436 £186,308 £198,418 £208,339
Wychavon £255,778 £248,104 £256,788 £269,627 £287,153 £301,511
Wyre £158,882 £154,116 £159,510 £167,485 £178,372 £187,290
Wyre Forest £208,392 £202,140 £209,215 £219,676 £233,955 £245,653
York £273,895 £265,678 £274,977 £288,726 £307,493 £322,868

Help to Buy ISAs and LISAs: London limit is £450k

The Finder study also found that, by 2028, only 6 of the 32 London boroughs – could have an average house price for first-time buyers that is below the threshold for the Help to Buy ISA allowance. This stands at £450,000 in London, £200,000 higher than the rest of the UK, but

This equates to 81% of local authorities in London being priced out of the Help to Buy ISA benefits, despite the cap for properties in London sitting £200,000 higher than the rest of the UK at £450,000.

Below, you can explore how this will affect first-time buyers with a Help to Buy ISA in London.

Local Authority Average price 2023 Estimated price 2024 Estimated price 2025 Estimated price 2026 Estimated price 2027 Estimated price 2028
Barking and Dagenham £329,713 £319,822 £331,016 £347,567 £370,158 £388,666
Barnet £480,160 £465,755 £482,056 £506,159 £539,059 £566,012
Bexley £354,589 £343,952 £355,990 £373,790 £398,086 £417,990
Brent £448,222 £434,775 £449,992 £472,492 £503,204 £528,364
Bromley £394,945 £383,097 £396,505 £416,330 £443,392 £465,562
Camden £721,906 £700,249 £724,758 £760,995 £810,460 £850,983
City of Westminster £876,710 £850,409 £880,173 £924,182 £984,253 £1,033,466
Croydon £348,374 £337,923 £349,750 £367,238 £391,108 £410,664
Ealing £468,780 £454,716 £470,631 £494,163 £526,283 £552,598
Enfield £385,243 £373,686 £386,765 £406,103 £432,499 £454,124
Greenwich £385,635 £374,066 £387,158 £406,516 £432,939 £454,586
Hackney £591,289 £573,550 £593,624 £623,306 £663,821 £697,012
Hammersmith and Fulham £673,826 £653,611 £676,487 £710,312 £756,482 £794,306
Haringey £530,390 £514,478 £532,485 £559,109 £595,451 £625,224
Harrow £422,446 £409,772 £424,114 £445,320 £474,266 £497,979
Havering £357,594 £346,866 £359,007 £376,957 £401,459 £421,532
Hillingdon £379,468 £368,084 £380,967 £400,016 £426,017 £447,317
Hounslow £404,917 £392,769 £406,516 £426,842 £454,587 £477,316
Islington £652,651 £633,072 £655,229 £687,991 £732,710 £769,345
Kensington and Chelsea £1,144,002 £1,109,682 £1,148,521 £1,205,947 £1,284,333 £1,348,550
Kingston upon Thames £452,253 £438,686 £454,040 £476,742 £507,730 £533,116
Lambeth £484,879 £470,333 £486,794 £511,134 £544,358 £571,576
Lewisham £392,124 £380,360 £393,672 £413,356 £440,224 £462,235
Merton £493,660 £478,851 £495,610 £520,391 £554,216 £581,927
Newham £403,096 £391,004 £404,689 £424,923 £452,543 £475,170
Redbridge £399,857 £387,861 £401,436 £421,508 £448,906 £471,351
Richmond upon Thames £590,987 £573,257 £593,321 £622,987 £663,481 £696,655
Southwark £467,539 £453,513 £469,386 £492,855 £524,891 £551,136
Sutton £362,936 £352,048 £364,370 £382,589 £407,457 £427,830
Tower Hamlets £474,589 £460,352 £476,464 £500,287 £532,806 £559,446
Waltham Forest £477,083 £462,770 £478,967 £502,916 £535,605 £562,386
Wandsworth £538,806 £522,642 £540,934 £567,981 £604,900 £635,145

When does the Help to Buy ISA end?

The deadline to open a Help to Buy ISA account closed in 2019, but existing savers can continue paying £200 a month into their account until November 2029 and they can claim the government bonus until December 2030.

Nationwide and Halifax house price indices

According to the Nationwide House Price Index, there was a 1.8% drop in the average house price between December 2022 and December 2023. However, the Halifax House Price Index showed 1.7% growth year-on-year, so there is a mixed picture when it comes to house price trends.

In December 2023, Nationwide registered the average house price as £257,443, not much change from November 2023 when it was £258,557. Meanwhile, the Halifax average house price was £287,105 in December 2023, a 1.1% increase from November 2023.

These monthly house price indices are based on mortgage lending and are thought to be less accurate than ONS data.

Nationwide - Nov 2023 Halifax - Nov 2023
Average house price £259,423 £283,615
Annual change -2.00% -1.00%
Monthly change 0.20% 0.50%

Are UK house sales slowing down?

Data from the Bank of England shows that mortgage approvals were down 26% year-on-year in November 2023 compared to November 2022. The housing market has slowed down due to successive hikes in the base rate, resulting in high mortgage rates. However, mortgage approvals were up 5% in November 2023 compared to October 2023.

Month Number of mortgage approvals
31 Oct 21 67,724
30 Nov 21 69,175
31 Dec 21 54,797
31 Jan 22 52,362
28 Feb 22 63,783
31 Mar 22 81,514
30 Apr 22 65,822
31 May 22 71,769
30 Jun 22 74,695
31 Jul 22 68,384
31 Aug 22 75,824
30 Sep 22 67,781
31 Oct 22 56,456
30 Nov 22 46,676
31 Dec 22 29,954
31 Jan 23 29,342
28 Feb 23 40,272
31 Mar 23 60,964
30 Apr 23 46,495
31 May 23 57,240
30 Jun 23 64,958
31 Jul 23 53,023
31 Aug 23 48,063
30 Sep 23 44,293
31 Oct 23 48,823

Are house prices dropping in each UK region?

The housing market is different in each UK region, but all regions have seen a drop in house prices in the year to November 2023.

London is the region with the highest average house price but the region has also seen the biggest annual drop of 6% in house prices in the year to November 2023. The South West has also seen a big drop in house prices, which have fallen 4.1% year on year.

Although the North East is the region with the lowest average house price, it has seen the smallest drop in house prices, which have decreased by 0.4% in the year to November 2023.

Region Annual percentage change in house prices
North East 0.20%
Yorkshire and The Humber -0.30%
West Midlands -0.40%
East Midlands -0.60%
North West -1.20%
South East -1.70%
South West -2.00%
London -2.30%
East -3.60%

Methodology and sources

  • ONS House Price Index
  • Halifax House Price Index
  • Nationwide House Price Index
  • Bank of England

For all media enquiries, please contact

Matt Mckenna
UK communications manager
T: +44 20 3828 1338
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

Written by

Emily Herring

Emily Herring is a Publisher at Finder specialising in credit-based products including credit cards and business and personal loans. Emily has recently joined the Investments team. She has a Masters in Creative Writing & Publishing and a Bachelor of Arts in Communication & Media. See full profile

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