Top 10 house price hot spots where value is increasing the most

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More homeowners have seen their property increase in value last year, compared with 2023, according to latest calculations.

Around half of UK homes increased in value by 1% or more in 2024, Zoopla estimated.

Whilst 2024 saw a broad recovery of house prices, around a third of homes recorded price declines of 1% or more last year, equating to just over nine million properties.

Just under six million homes last year recorded broadly static prices, according to Zoopla’s calculations.

The falls in property values tended to be more concentrated across southern England, as higher mortgage rates reduced buying power, Zoopla said.

Taking into account price rises and falls, the average property value increased by £2,400 last year.

Here are average changes in property values across Britain in 2024, followed by the percentage of homes with value increases of 1% or more according to Zoopla (Northern Ireland was not included in the regional breakdown figures, although it was in the main calculations):

– North West, £4,400, 63%

– North East, £4,300, 68%

– West Midlands, £3,900, 59%

– Yorkshire and the Humber, £3,700, 61%

– Scotland, £3,200, 61%

– Wales, £2,300, 52%

– East Midlands, £1,700, 48%

– London, £600, 40%

– South West, minus £300, 37%

– South East, minus £900, 35%

– East of England, minus £1,300, 33%

Here are the towns with the highest percentages of homes increasing in value in 2024 in each region or nation, with the percentage of homes with an increase of 1% or more and the average cash increase:

– East Midlands, Glossop, 67%, £7,000

– East of England, Berkhamsted, 53%, £24,500

– London, Waltham Forest, 64%, £8,700

– North East, Peterlee, 83%, £6,100

– North West, Blackburn, 77%, £8,100

– Scotland, Carluke, 82%, £8,900

– South East, Thame, 56%, £5,600

– South West, Portland, 54%, £2,900

– Wales, Ferndale, 74%, £3,900

– West Midlands, Wednesbury, 79%, £6,000

– Yorkshire and the Humber, Normanton, 81%, £7,500

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Here are the towns with the highest percentages of homes decreasing in value in 2024 in each region or nation, with the percentage of homes with a decrease of 1% or more and the average cash decrease or increase among property values there:

– East Midlands, Corby, 74%, £6,000 decrease

– East of England, Bungay, 79%, £8,400 decrease

– London, Kensington and Chelsea, 72%, £44,300 decrease

– North East, Houghton Le Spring, 48%, £3,800 increase

– North West, Cheadle, 54%, £2,000 decrease

– Scotland, Inverurie, 65%, £4,200 decrease

– South East, Broadstairs, 89%, £15,300 decrease

– South West, Ferndown, 83%, £14,400 decrease

– Wales, Pwllheli, 64%, £3,650 decrease

– West Midlands, Evesham, 45%, £900 increase

– Yorkshire and the Humber, Beverley, 57%, £5,100 decrease

Richard Donnell, executive director at Zoopla 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.

“Faster income growth is helping to repair affordability, supporting moving decisions in 2025.”