Stoke leads house prices higher while London languishes – report

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. have seen remarkable house price growth this year, as buyers perhaps seek out more affordable areas Amanda Bryden, Halifax head of mortgages In a similar reversal of fortunes, Huddersfield in West Yorkshire lost its place at the top of the growth league last year to slip to the bottom in 2024, with prices down by 6.6% on average to £260,498. Amanda Bryden, head of mortgages at Halifax, 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.” She added: “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.” The past year has seen interest rates cut twice, in August and November, to end 2024 at 4.75%, but buyers are still struggling with affordability as borrowing costs remain high and amid other cost-of-living pressures. Here are the top 10 biggest risers, according to Halifax data: Stoke-on-Trent, West Midlands, £227,002, 17.2%Slough, South East, £497,704, 14.9%Oldham, North West, £250,546, 14.6%Bradford, Yorkshire and The Humber, £226,261, 13.1%Bolton, North West, £252,070, 12.9%Barnsley, Yorkshire and The Humber, £224,886, 12.6%Wolverhampton, West Midlands, £278,083, 12.4%Doncaster, Yorkshire and The Humber, £228,040, 11.6%Dunfermline, Scotland, £230,379, 10.8%Hamilton, Scotland, £229,835, 10.3% Here are the top 10 biggest fallers, according to Halifax data: Huddersfield, Yorkshire and The Humber, £260,498, 6.6%Wirral, North West, £294,250, 5.4%Ealing, London, £559,788, 4.9%Southwark, London, £555,325, 4.8%Kingston Upon Thames, London, £582,282, 4.2%Enfield, London, £506,667, 4.0%Harrow, London, £552,203, 3.6%Westminster, London, £730,859, 3.5%Bromley, London, £541,131, 3.2%Aylesbury, South East, £423,252, 2.8%