According to the latest Zoopla House Price Index, property prices are on track to be 2.5% higher over 2024, with 1.1 million projected sales.
The data shows that house prices rose by 1.4% over the first 7 months of 2024. The average price stood at £266,400 as of July 2024.
Looking at the current UK property market, Zoopla notes that all areas of market activity are up year-on-year. This uptick has been supported by economic growth and rising consumer confidence.
The overall price trend is registering growth, with some localised declines. The two English cities with the highest annual price growth were Manchester (2%) and Liverpool (1.7%). Thanks to this stable growth compared to other regions, the North West is gaining attention as a buy-to-let property hotspot.