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House prices in your region 2024

ended 18. December 2023

Tomorrow AM we're going to be sending house price predictions to regional media outlets, so please send us across a few pars on what you think will happen to house prices in your area in 2024 — and why. We'll be lobbing them out to national and trade media, too. 

12 responses from the Newspage community

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Stephen Perkins
Managing Director at Yellow Brick Mortgages
House prices in East Anglia should hold firm over 2024, moving to the area from the bigger cities still has great appeal, and there is a limited amount of available property, with not enough new homes to keep up with demand. Therefore, whilst there may be seasonal ups and downs, I believe house prices in general will be quite flat in 2024 in the region.
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Ken James
Director at Contractor Mortgage Services
Living in North London means that every property no matter the size shape or even condition seems to have a High price tag, Whilst the rumor mill has it that property prices may decline by upto 4%, I do feel that in and around the London area we may not see falls as far as this, I believe we will see a reduction but it may be closer to the 2% mark. Some adjustments have to be made for all the years where the property was growing out of control post-Covid, the stamp duty incentive sent the market into overdrive dragging prices up along with it.
The London Bubble is a real thing, While there may be areas of the country that may need a larger reduction to increase the movement of property, London will always be an anomaly as a hotspot where people gravitate towards as a location to live, this I feel will keep the property prices in the area at a certain level.
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Samuel Mather-Holgate
Independent Financial Adviser at Mather and Murray Financial
Swindon could be set for a bumper 2024. If there is a change of government and planning policy, many new developments could proceed, that have been stuck by bureaucracy up to this point. On top of that, if interest rates start to come down in the second quarter and the economy has a soft landing, confidence will return to the market and transactions should pick up. I would expect house price growth of high single digits, out-pacing the national trend.
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Darryl Dhoffer
Founder at The Mortgage Geezer
House Prices for 2024 in the Bedfordshire towns and cities will largely remain as they are, currently, and, in some highly sought-after areas, properties gaining in price due to a lack of quality properties coming to market. If we see continued rate reductions into 2024, then this could spark the mortgage market back into life, which in turn could lead to average house prices increasing as demand for property increases, as mortgages become more affordable.
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Rita Kohli
Managing Director at The Mortgage Stop
In and around Hampshire we're seeing high-value properties take longer to sell and have seen some reductions in these properties and we expect that to continue into 2024. However mid-market and first-time buyer properties have remained robust in their pricing, yes people have stopped bidding over the asking price but we're still seeing clients buying at or close to it. This isn't likely to change into 2024 as there is still much more demand than supply and until this changes I think we'll continue to see limited price reductions across the region especially if interest rates reduce further which could further increase demand in the area.
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Gary Bush
Financial Adviser at MortgageShop.com
We see property prices in 2024 staying stable for the first quarter and then if conditions stay as they currently are a slow progressive increase commencing nationwide. Demand for properties is still being seen in estate agents, the main problem is the shortage of "decent" stock. To supplement this detail, despite the property and financial markets disaster this year, some regions of the UK have seen price increases regardless of the financial situation, mainly due to the fact that prices are proportionately lower than other areas of the country, and lagging well behind, and the demand for bargain properties is still present. Areas, where growth, we have found, is still being demonstrated, are the North East and North West of England.
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Rob Gill
Managing Director at Altura Mortgage Finance
The most likely outcome for 2024 house prices is a modest decline of up to 5% as higher interest rates and economic uncertainty continue to take their toll. A strong rebound however cannot be ruled out, especially if the government decide to boost the economy and housing market ahead of a general election. We saw during the pandemic how plummeting activity and softening house prices turned round dramatically following the introduction of the stamp duty holiday. An increasingly desperate government may try similar measures to boost their own fortunes alongside the housing market.
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Clive Read
Owner at Goldmanread
Our local market includes Westcliff on Sea, Southend-on-sea and surrounding areas. Prices have remained more or less flat during 2023 like much of the UK. We believe this remains an attractive area for buyers, with access to a number of Ofsted highly rated schools and easy commuting distance to London. Leigh on Sea has been voted one of the happiest places to live by the Times Newspaper and buyers can still access reasonably priced family homes. Our feeling is that as interest rates start to reduce or stabilise we'll see an uplift in prices of between 5-10% as confidence returns to the local market.
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Austyn Johnson
Founder at Mortgages For Actors
Hovering about the same to start with, a bit of a wobble in the winter to spring months and then a nice rise going into summer when everyone and their dog wants to move. Its looking goood for 2024.
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Charles Breen
Founder at C B
House prices in Northamptonshire are primed to take off next year, with our new direct links into London, traditionally lower house values and the resilience of our local economy and the extensive investment in our region we are primed to see a strong increase in the next year and the years to come.
House prices and buying intend took a smaller knock here than other parts of the country from the increase in rates and look as though they are lined up to rocket. We have strong fundamentals here in Northamptonshire and despite the best attempts of the schizophrenic bank of england and perpetually confused government we are in a good position for the next 12 months and if December is anything to go by we are in line to see a very busy year ahead with strong growth.
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Adam Smith
Founder at Alfa Mortgages
Over the last few weeks, we have seen down valuations coming back from all parts of the country, anything from a few thousand to fifty thousand. Feels like reduced interest rates and cheaper house prices will stoke the market for buyers in Q1 2024.
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Ross McMillan
Owner/Mortgage Advisor at Blue Fish Mortgage Solutions
Scotland's housing market has proved remarkably robust and price-wise fared better than most other UK regions in the last 12 months. Currently,there is nothing to suggest that this solid foundation won't provide a secure launchpad for a strong 2024. With mortgage rates trending downwards and the rental market expensive and fiercely competitive, demand and activity from first-time buyers in particular will continue to be vibrant and whilst supply remains limited, this sector of the market is likely to fuel a positive start to the new year. Beyond the basic market mechanics,the outcome and mere fact of a looming general election may play a factor in overall sentiment and it's that which may determine whether or when the broader market from middle to high end will awaken from its relative slumber in 2023. Barring any unforeseen economic or international challenges,Scotland in 2024 is perhaps the most likely of any area in the UK to see house price growth over the next 12 months.