House prices in Stoke-on-Trent surged by +17.2% during the 12 months to September 2024, emerging as the best performing area for house price growth in the UK housing market, according to the latest data from Halifax.

Following closely behind, Slough experienced a rise of +14.9% in house prices, and, in Oldham, the cost of a home increased by +14.6%. Research from Halifax earlier this year found that over seven in 10 (73%) house purchases in Slough were made by first-time buyers.

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%
2023 vs 2024, rolling 12-month data to end September each year, minimum sample 150

Capital dominates for lowest house price growth

The ten towns and cities with the smallest house price growth are led by Huddersfield, which saw a decline of -6.6% over the 12 months to September of this year, equivalent to a fall of £18,514.

This should be seen in some important context – Huddersfield came top of the table last year, with an average growth in house price of +8.7% meaning, over the two years, house prices in the area have risen overall.

Several London boroughs also experienced some of the lowest house price growth over the period, including Ealing, Southwark and Harrow.

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%
2023 vs 2024, rolling 12-month data to end September each year, minimum sample 150

Amanda Bryden, Head of Mortgages, said:

“Some areas of the UK – including Stoke-on-Trent, Wolverhampton and Dunfermline – have seen remarkable house price growth this year, as buyers perhaps seek out more affordable areas where house prices, despite increases, are still coming in under the national average. This trend is causing house prices in some areas to flip from slowing, to growing, such as Stoke-on-Trent, which was the biggest faller last year but showed the highest rate of growth, regionally, this year.

“That story doesn’t play out nationally. The high asking price for London properties means house prices have fallen in several boroughs – perhaps a reflection that the relatively high cost of properties is stretching affordability for buyers, or perhaps what they are willing to pay. 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, against a national ratio of 6.55.

“Regionally, while the South East has seen some robust growth – in places like Basingstoke and Maidstone, overall, it is lagging behind the rest of the UK, with movement of just +1.8%, compared to +6.3% for the UK overall. Much like London, first-time buyers won’t find a bargain here, as the slow growth is likely a consequence of the already-high property prices, relative to the national average.

“When you’re buying a home there’s so much to consider – it can become overwhelming, with the cost of a property just one of many things to think about. My advice would be to make yourself a list of everything that’s important to you, decide which are the deal-breakers and which you’re willing to compromise on, then get stuck in with viewing houses and visiting areas to get a feel for each place. Be open to everything that’s affordable and suits your personal circumstances – you never know where you might find a hidden gem that’s just right for you.”