Story perspectives
UK House Prices Rise 3.3% Despite Affordability Challenges
1/8/2025
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Story summary
- In 2024, UK house prices increased by 3.3%, averaging £297,166, despite a slight December decline.
- Decreasing mortgage rates and rising incomes have alleviated some buyer financial pressures.
- Affordability challenges continue in 2025, with mortgage rates hovering around 7%.
- Limited housing inventory and high prices restrict buyer choices.
- Experts recommend improving credit and saving for larger down payments before buying.
