House prices in Stoke-on-Trent saw a significant rise of 17.2% during the year to September 2024, making it the top performer in the UK housing market, as reported by Halifax.
Following closely behind, Slough experienced an impressive increase of 14.9% in house prices. In Oldham, home prices rose by 14.6%, highlighting a strong performance across various regions.
Further research from Halifax earlier this year revealed that first-time buyers made 73% of all house purchases in Slough. This trend underscores the growing appeal of these areas, particularly for those entering the housing market for the first time.
Top ten UK towns and cities with greatest house price growth 2023 to 2024
| Town / LA | Region | Average Price 2023 | Average Price 2024 | £ Growth in Price | % Growth in Price |
| Stoke-On-Trent | West Midlands | £193,662 | £227,002 | £33,339 | 17.2% |
| Slough | South East | £433,194 | £497,704 | £64,510 | 14.9% |
| Oldham | North West | £218,595 | £250,546 | £31,951 | 14.6% |
| Bradford | Yorkshire and The Humber | £200,093 | £226,261 | £26,168 | 13.1% |
| Bolton | North West | £223,231 | £252,070 | £28,839 | 12.9% |
| Barnsley | Yorkshire and The Humber | £199,725 | £224,886 | £25,161 | 12.6% |
| Wolverhampton | West Midlands | £247,403 | £278,083 | £30,680 | 12.4% |
| Doncaster | Yorkshire and The Humber | £204,371 | £228,040 | £23,669 | 11.6% |
| Dunfermline | Scotland | £208,013 | £230,379 | £22,365 | 10.8% |
| Hamilton | Scotland | £208,360 | £229,835 | £21,474 | 10.3% |
Huddersfield topped the list of towns and cities with the smallest house price growth, experiencing a decline of 6.6% during the 12 months to September 2024. This drop equates to a decrease of £18,514 in the average house price.
In addition to Huddersfield, several London boroughs also saw some of the lowest house price growth over the same period. Areas such as Ealing, Southwark, and Harrow recorded minimal increases, reflecting a slower pace of price growth in parts of the capital.
Top ten UK towns and cities with lowest house price growth 2023 to 2024
| Town / LA | Region | Average Price 2023 | Average Price 2024 | £ Growth in Price | % Growth in Price |
| Huddersfield | Yorkshire and The Humber | £279,012 | £260,498 | -£18,514 | -6.6% |
| Wirral | North West | £311,003 | £294,250 | -£16,753 | -5.4% |
| Ealing | London | £588,383 | £559,788 | -£28,596 | -4.9% |
| Southwark | London | £583,203 | £555,325 | -£27,878 | -4.8% |
| Kingston Upon Thames | London | £607,522 | £582,282 | -£25,240 | -4.2% |
| Enfield | London | £527,807 | £506,667 | -£21,140 | -4.0% |
| Harrow | London | £572,921 | £552,203 | -£20,718 | -3.6% |
| Westminster | London | £757,083 | £730,859 | -£26,224 | -3.5% |
| Bromley | London | £558,980 | £541,131 | -£17,848 | -3.2% |
| Aylesbury | South East | £435,416 | £423,252 | -£12,164 | -2.8% |
Amanda Bryden, Head of Mortgages, explains that certain areas of the UK have experienced impressive house price growth this year, including Stoke-on-Trent, Wolverhampton, and Dunfermline. This is likely due to buyers seeking more affordable regions where house prices, despite increases, remain below the national average.
She further notes that this trend has led to some areas experiencing a shift from slowing to growing house prices. For example, Stoke-on-Trent, which had been one of the biggest fallers last year, has now shown the highest rate of growth in the region.
However, this pattern does not apply nationally. In London, the high asking prices for properties have led to price falls in several boroughs. This could indicate that the relatively high cost of properties is stretching affordability for buyers, or that potential buyers are no longer willing to meet these price points.
Overall, London has a house price to earnings ratio of 8.22, making it one of the least affordable places to live in the country, compared to the national ratio of 6.55. Regionally, while the South East has seen some solid growth, particularly in areas like Basingstoke and Maidstone, the overall growth in the region is slower than the national average, at just +1.8%, compared to 6.3% across the UK.
For first-time buyers, the slow growth in the South East suggests that they are unlikely to find a bargain, as the already-high property prices in these areas may be a major factor behind this subdued growth.
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