Regional Round Up of the UK Property Market -2024 vs 2023

Thu 04 Jul 2024

As an estate and letting agent in Exeter & Dawlish 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 Exeter and Dawlish property market.