UK house prices rise, Northern Ireland and Scotland lead

The RICS UK Residential Market Survey’s house price balance, which measures the difference between those reporting price increases and those seeing declines, rose to +16% in October 2024.

UK house prices rise, Northern Ireland and Scotland lead

This marked an increase from +11% in September and zero in August, surpassing expectations that had forecasted no change at +11%. This is the highest reading in two years. Regionally, Northern Ireland, Scotland, the North East, North West, and London reported positive house price balances. Looking ahead, more respondents now expect house prices to keep rising over the next three months, with the net balance for this indicator climbing to +20%, up from +12% in the previous survey.

UK house prices to rise, strong growth in NI & Scotland

Additionally, nearly all regions in the UK are anticipated to see house price growth over the next year, with robust increases expected in Northern Ireland and Scotland.