UK House Prices Show Regional Variance Amid Market Resilience

House prices are rising in the north and falling in the south, with overall sales increasing by 15% year-on-year.

House prices in Northern Ireland, Scotland, and the North West are on the rise, while the East of England, South East, and South West see declines.
London's house prices are down 0.8% year-on-year, but the city experiences a 16% increase in the number of homes sold.
Mortgage rates, initially falling, are beginning to rise again, impacting buyer decisions.
The overall UK housing market remains resilient, with a 15% increase in house sales and a forecast of 10% more homes sold in 2024 than in 2023.
Affordability issues in the south contrast with a faster recovery in London due to growing demand and limited supply.