House prices in the north-east of England increased by seven times more than in London in 2024, new figures for 2024 have revealed.

And prices in some posh London post codes have fallen in the past twelve months, by more than 14 per cent in some areas.

By contrast the average house price in the north east of England has gone up from £155,798 to £167,132, an increase of 7. 3 per cent in the past twelve months.

The latest research by Yopa, the ‘full-service’ estate agents, reveals the UK regions property market winners and losers in 2024 based on house price growth since the start of the year.

Across the UK as a whole, house prices are up 5.1 per cent.
Regionally the North East tops the table having seen a jump of 7.3 per cent compared to just 1.4 per cent in London - the region with the lowest rate of growth.

CEO of Yopa, Verona Frankish, said: “Despite the ongoing challenges faced, particularly with respect to higher mortgage rates, it’s been a largely positive year for the UK property market.
“Property values have climbed notably across many areas of the market and the top 10 highest rates of growth include areas from the length and breadth of the UK.

“We’ve seen buyers returning, more offers being made and accepted and house prices rising consistently throughout the year.
“But it is not such great news if you live in London’s high-end neighbourhoods though, with prime boroughs accounting for half of the worst performing areas in 2024.”

But when it comes to the house price winners in 2024, it’s one area of Northern Ireland that tops the table.

The Northern Irish area of Causeway Coast and Glens has seen the average house price climb by a huge 13.8 per cent since the start of the year alone, the highest rate of growth in the UK.

Oxford ranks second where house prices are up 12.5 per cent, with Blackburn with Darwen in Lancashire sitting third with a 12.1 per cent increase.

Other areas to make the top 10 include Clackmannanshire (11.5 per cent), Tewkesbury in Gloucestershire (11.2 per cent), Tower Hamlets in east London (11 per cent), Moray (10.8 per cent), Renfrewshire (10.2 per cent), East Renfrewshire (10 per cent) in Scotland and Bassetlaw (9.8 per vent) in Nottinghamshire.

And when it comes to the property market losers in 2024, London accounts for 50 per cent of the top 10.
The biggest reduction in house prices since the start of this year has been seen across the City of London with a fall of -14.5 per cent while in super rich Kensington and Chelsea the average house price fall by -12.5 per cent whilst across Westminster property values are down 10 per cent.

Camden (-4.7 per cent) and Hammersmith and Fulham (-3 per cent) make up the other London boroughs in the top ten property losers.

Previous seaside hotspots like the Isle of Wight (-4.4 per cent), South Hams in Devon (-4.3 per cent), and Worthing (-2.3 per cent) have all seen house prices fall in 2024.