Only half of UK homes saw an increase in value last year – zoopla
Research from Zoopla shows that half of the UK’s 30 million homes gained in value in 2024, as house prices resumed growth after a dip in 2023. The decline in 2023 was attributed to weak buyer demand, influenced by higher borrowing costs.
In total, 15 million UK homes saw a value increase of 1% or more last year, marking a 42% rise from the 10.6 million homes that experienced price growth in 2023.
The average value increase for homes that saw price growth was £7,600, with 6.9 million properties recording an increase of £10,000 or more. A third of the UK’s homes experienced a decrease in value.
The platform’s executive director, Richard Donnell, said: “The housing market returned to growth in 2024 but the pattern of home value changes across Britain is far from uniform.
“There is headroom for prices to increase in markets where housing is affordable compared to incomes which covers many parts of northern England and Scotland.
“In contrast, affordability is more of a constraint on price rises in Southern England where the market continues to adjust to higher borrowing costs.”
He added: “Faster income growth is helping to repair affordability supporting moving decisions in 2025.”
Zoopla reports that although house prices broadly recovered in 2024, a third of homes (9.2 million) still experienced a price drop of 1% or more.
However, this is an improvement compared to 2023, when 12.8 million homes saw a price decline. Around six million homes saw only slight changes in price, fluctuating within a 1% range.
Additionally, a notable north-south divide remained in 2024, with fewer homes in Southern England seeing price increases compared to other parts of Britain.
