UK house prices increase as recovery gathers pace – industry reactions

Landlord

Posted in Jul 02 , 2024

UK house prices increase as recovery gathers pace – industry reactions

UK house prices increased for their second consecutive month in April, latest official figures show, as the housing market continues to show signs of recovery as the economy improves.

The average UK house price increased by 1.1 per cent in the 12 months to April, according to a provisional estimate from the Office for National Statistics (ONS).

This figure accelerated from 0.9% annual growth in the year to March and marked the second month in a row with an annual increase, after eight straight months of declines.

Sentiment in the housing market has shown signs of improvement this year despite mortgage rate remaining elevated and the Bank of England continuing to hold interest rates at 5.25%.

Separate data from the ONS yesterday revealed inflation returned to the government’s 2% target in May for the first time since July 2021.
However, the central bank is still expected to wait until at least August to cut interest rates. Its next meeting is scheduled this morning.

The ONS said house prices rose by 0.6% in England, 0.4% in Wales and 4.5 per cent in Scotland in the year to April.

The data also showed that average UK private rents increased by 8.7% in the 12 months to May, slowing from an 8.9% increase in April – which came after a rise of 9.2% in March.

https://propertyindustryeye.com/uk-house-prices-increase-as-recovery-gathers-pace-industry-reactions/

Shared on social media

Comments

Enquiry form

Latest news

June 2026 Uk Property Report: House Prices Stall as the Market Finds Its Balance

The UK property market became more balanced in June. Buyers remained cautious as mortgage costs and economic uncertainty continued to influence decisions. Whilst demand is still present, sales activity has slowed compared with last year, making accurate pricing and expert guidance more important than ever. House Price Forecasts Revised Down for 2026 A Reuters survey of property economists has lowered the UK house price growth forecast for 2026 from 2.5% to 1.8%. London prices are expected to fall by around 0.3% this year before recovering in 2027. Why it matters Slower growth does not mean the market has stopped. Buyers are becoming more value-conscious, and realistic pricing is becoming the key to attracting offers. How we help We provide an accurate market valuation, recommend the right asking price, and create a marketing strategy to generate genuine interest from serious buyers. Mortgage Approvals Fall as Buyers Become More Selective Mortgage approvals fell to around 56,200 in May, a 15% drop from April and 11% lower than the same period last year. Higher borrowing costs continue to affect affordability, encouraging buyers to take more time before committing. Why it matters Fewer financed buyers mean sellers need to stand out. Buyers who have their finances in place are also in a stronger position to negotiate. How we help We qualify buyers early, work closely with all parties throughout the transaction, and help keep sales progressing from offer through to completion. House Prices Stabilise After May's Decline Following May's fall, Nationwide reported that house prices remained flat in June, whilst annual growth edged up to 2.2%. Limited housing supply continues to support prices, even as buyer demand has softened. Why it matters The market is finding its balance. Correctly priced homes continue to attract buyers, whilst overpriced properties are taking longer to sell. How we help We provide honest advice based on local market conditions, helping you make decisions with confidence rather than relying on national headlines. Rental Demand Remains Strong whilst Supply Stays Tight Rental supply remains 20% to 30% below pre-pandemic levels, whilst tenant demand continues to exceed the number of available homes. Although rent growth has slowed, limited supply continues to support landlords and investors. Why it matters Strong demand and limited supply continue to create favourable conditions for landlords, particularly in high-demand locations. How we help We help landlords find suitable tenants, manage day-to-day lettings, stay compliant with changing regulations, and reduce void periods through proactive property management. Correct Pricing Makes a Bigger Difference Recent market data shows that realistically priced homes are selling in around 36 days, whilst overpriced properties can remain on the market for more than 120 days. Why it matters The first few weeks after listing are often the most important. A realistic asking price helps generate more enquiries and stronger offers. How we help Our valuations are based on current buyer demand, comparable local sales, and market conditions, helping your property launch at the right price. Bank of England Keeps Rates on Hold The Bank of England kept the base rate at 3.75% during its June meeting. Although inflation has eased to 2.8%, policymakers remain cautious about rising energy costs and their impact on future inflation. The committee voted 7 to 2 to keep rates unchanged, showing there is still uncertainty over the direction of interest rates. Why it matters Mortgage rates are likely to remain an important factor for buyers in the coming months. whilst many hope borrowing costs will fall, the Bank has signalled it will continue to monitor inflation before making further changes. How we help We help you understand today's market and identify opportunities that fit your budget and long-term plans. What's the Bigger Picture? June suggests the property market is settling into a healthier balance after several months of uncertainty. Buyers are still active, but they are taking more time to compare properties and secure the right mortgage. Sellers who price realistically and present their homes well continue to achieve good results, whilst landlords remain in a strong position due to ongoing demand for rental homes.

Wimbledon Park Area & Property Guide

If you’re on a hunt to find the best place in Wimbledon Park, let me tell you that it offers something that is becoming increasingly difficult to find in London. You get access to green space, highly regarded schools, strong transport links, and a genuine residential feel, all within easy reach of Central London. Many buyers start by looking at Wimbledon Village, Putney, or Southfields. They often discover that Wimbledon Park provides many of the same advantages while offering a broader range of property options and a slightly more balanced entry point into the SW19 property market. Why Buyers Choose Wimbledon Park Over Other South West London Areas One of the biggest concerns buyers have is whether they're paying a premium for an area name rather than the actual quality of life. In this Wimbledon Parkarea guide, you will know that the area has combined access to places like Wimbledon Common, respected schools, and excellent transport connections. That combination appeals to families who want more than just a house. They want an area that still works five, ten, or even twenty years from now. Unlike some London neighbourhoods that attract short-term residents, Wimbledon Park has a strong base of long-term homeowners. That stability plays an important role in supporting both community feel and property demand. Property Prices in Wimbledon Park Property prices in Wimbledon Park reflect its popularity among families and long-term buyers. Property prices include: 1-bedroom flats: £450,000 to £750,000 2-bedroom apartments: £650,000 to £1 million+ Terraced homes: £800,000 to £1.5 million+ Larger family homes: £1.5 million to £3 million+ The rental values include: 1-bedroom flats: £1,900 to £2,400 pcm 2-bedroom apartments: £2,500 to £3,500 pcm 3-bedroom family homes: £3,500 to £5,500+ pcm Larger detached homes: £6,000 to £10,000+ pcm Schools in Wimbledon Park Schools remain one of the strongest reasons buyers move to Wimbledon Park. The area benefits from access to respected educational options, including: Wimbledon Park Primary School Holy Ghost Primary School Wimbledon College Wimbledon High School King's College School For many families, these schools are a major factor behind purchasing decisions. Access to strong education often supports long-term property demand, which helps protect values even during changing market conditions. Green Space That Shapes the Lifestyle When people talk about living in Wimbledon Park, they are often talking about more than the properties themselves. The area's lifestyle is heavily influenced by nearby green spaces, including: Wimbledon Park Wimbledon Common Cannizaro Park These spaces provide opportunities for walking, running, cycling, sports, and family activities throughout the year. Transport and Commuting Wimbledon Park Station provides District Line services, while nearby Wimbledon Station offers National Rail and Underground connections. Typical journey times include: London Waterloo: around 17–20 minutes Victoria: around 25 minutes Clapham Junction: around 10 minutes This level of connectivity allows residents to enjoy a more residential environment while remaining connected to key London destinations. Shops, Cafes, and Everyday Convenience Daily life in Wimbledon Park is supported by a strong mix of local amenities. Residents benefit from easy access to: Arthur Road shops and cafés Wimbledon Town Centre Wimbledon Village Independent retailers Restaurants and supermarkets The area offers enough activity and convenience without feeling overcrowded. For many residents, this balance is one of the main reasons they choose to stay long term. Is Wimbledon Park a Good Investment? From an investment perspective, Wimbledon Park continues to benefit from several long-term demand drivers. These include: Strong family demand Access to highly regarded schools Excellent transport links Limited supply of larger family homes Consistent appeal across different market cycles Typical investment figures include: Flats from £450,000 Family homes from £800,000+ Rental values from £1,900 pcm Unlike areas driven primarily by short-term growth, Wimbledon Park property tends to attract buyers looking for stability, quality of life, and long-term value. The Role of Cribs Estates Whether you're buying, selling, letting, or investing in Wimbledon Park, understanding the local market can make a significant difference. At Cribs Estates, we help clients assess property values, understand demand trends, and make informed decisions based on local market knowledge. Whether you're searching for a family home or exploring Wimbledon Park property investment opportunities, our team is here to help.

Property search

Residential Lettings

Residential Sales

Rooms to Rent

Commercial Sales

Commercial Lettings

Price

Min price

Max price

Number of Bedrooms

Min bedrooms

Max bedrooms

Find properties