Regional Round Up of the UK Property Market - 2024 vs 2023
As an estate and letting agent in Frome, it's always exciting to report positive trends in the property market. The first half of 2024 has shown remarkable growth compared to the same period in 2023, highlighting a robust and vibrant housing sector. Every region has seen growth in the number of homes sold stc.
Looking at each region…
- Leading the growth is East Anglia, where house sales surged from 52,573 in Q1/Q2 2023 to 64,722 in the same period of 2024, marking a 23.1% increase. This significant uptick demonstrates the area's appeal to buyers and investors alike.
- In joint second, The East Midlands saw a growth of 17.2%, with sales climbing from 37,650 to 44,115. This is a clear indicator of rising demand and growing confidence in the region.
- Sharing the second place podium is London, which also experienced a 17.2% growth, with sales increasing from 51,984 to 60,914. Despite the city's high prices, its allure remains strong, attracting numerous buyers.
- Next is the South East, with sales up from 79,702 to 93,093, resulting in a 16.8% increase. This region continues to be a hotspot for property buyers.
- The West Midlands also saw a significant increase of 15.8%, with sales up from 41,405 to 47,941.
- In the North West, sales climbed from 56,496 to 65,368, representing a 15.7% increase. This steady growth highlights the region's robust market conditions.
- Yorkshire witnessed a 14.9% growth, with sales increasing from 40,571 to 46,621.
- The North East experienced a growth of 13.1%, with sales going from 20,656 to 23,362. This growth, though smaller compared to other regions, still signifies a positive trend.
- In the South West, sales increased from 53,528 to 60,071, a 12.2% growth.
- Wales experienced an 11.2% increase, with sales rising from 23,339 to 25,948.
- Scotland performed well, with sales increasing from 42,022 to 46,832, an 11.4% growth.
- In last place, yet not least, Ulster saw a modest increase of 10.4%, with sales rising from 11,408 to 12,599.
This positive trend across all regions is excellent news for homeowners and investors alike.
If you're considering moving in the next 6 to 12 months, don't hesitate to give me a call for a no-obligation chat. The current market conditions are favourable, and I'd be delighted to assist you in making the most of this exciting time in Frome's property market.
