House prices in Stoke-on-Trent surged by 17.2% over the 12 months to September 2024, making it the UK’s top-performing area for house price growth, according to Halifax. The average house price in Stoke-on-Trent rose from £193,662 in 2023 to £227,002 in 2024, an increase of £33,339.
Slough followed closely with a 14.9% rise in house prices, climbing from £433,194 to £497,704—a £64,510 increase. Oldham ranked third, with house prices rising 14.6%, from £218,595 to £250,546, an increase of £31,951.
Several other areas also saw double-digit growth, including Bradford (13.1%), Bolton (12.9%), and Wolverhampton (12.4%).
At the other end of the spectrum, Huddersfield recorded the steepest decline in house prices, falling by 6.6%, equivalent to a £18,514 drop to an average price of £260,498. Several London boroughs, including Ealing (-4.9%), Southwark (-4.8%), and Harrow (-3.6%), also featured in the list of areas with the lowest growth, reflecting affordability pressures in the capital.
Regionally, Northern Ireland led the UK with a 10.6% annual increase in house prices, followed by Yorkshire and The Humber (6.4%) and the West Midlands (6.3%). The South East, by contrast, lagged with just 1.8% growth, while London recorded a modest 3.6% increase.
Amanda Bryden, head of mortgages at Halifax, said: “Some areas of the UK—such as 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.
“That story doesn’t play out nationally. 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. Overall, London has a house price-to-earnings ratio of 8.22, making it one of the least affordable places to live in the country, against a national ratio of 6.55.”
Nathan Emerson, CEO of Propertymark, added: “As the needs of home movers evolve, the necessity to be in a particular location for what once might have been employment related has very much changed. We have witnessed a notable shift allowing people to consider similar benefits and amenities which are important to many homeowners and potentially save considerable sums of money in doing so.
“When looking at average house prices across the West Midlands, for example, and despite strong growth in this region, a typical property costs around £188k less than a location such as Aylesbury. When you compare such facts side by side, it’s natural people are looking at the buying and selling process with a very cost-conscious and savvy approach.”
