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New research by Zoopla has revealed the regions and towns where property values rose and fell by the most in 2024.
The portal's data shows that one town recorded price rises of nearly £25,000, while another saw values drop by more than £18,000.
Read on to find out whether your town was a house price winner or loser in 2024, and for advice on what to consider if you're thinking of moving home this year.
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New research by Zoopla shows around 15 million UK homes increased in value in 2024, nearly five million more than in 2023.
The average increase was £7,600, though seven million homes recorded rises of £10,000 or more.
The north fared much better than the south. 68% of homes in the North East of England increased in value by at least 1%, followed by 61% in both Yorkshire and Humberside and Scotland.
However, just 33% of homes rose in value in the East of England, with the South East (35%) and South West (37%) also lagging behind.
Zoopla's research highlighted the towns where the highest proportion of homes increased in value.
Peterlee in the North East of England was the biggest hotspot, with 83% of houses rising by at least 1% in 2024. The full top five is shown below.
| North East | Peterlee | 83% | 14,500 | £6,100 |
| Scotland | Carluke | 82% | 7,800 | £8,900 |
| Yorkshire and The Humber | Normanton | 81% | 8,700 | £7,500 |
| West Midlands | Wednesbury | 79% | 16,600 | £6,000 |
| North West | Blackburn | 77% | 48,700 | £8,100 |
The property portal also revealed the towns where the average price of a property rose by the most in 2024.
Berkhamsted, located in the East of England, took the top spot with an average price rise of £24,500, considerably higher than any other UK town.
| East of England | Berkhamsted | £24,500 | 53% | 5,900 |
| Yorkshire and The Humber | Todmorden | £13,100 | 72% | 5,700 |
| South East | Oxted | £12,800 | 56% | 3,900 |
| South West | Malmesbury | £11,650 | 52% | 3,700 |
| Wales | Caerphilly | £11,200 | 74% | 19,000 |
Despite an overall growth in house prices last year, just under a third of UK homes (9 million) saw values decline by at least 1%.
This figure is still an improvement on 2023, when 13 million homes lost value.
The East of England experienced the largest average decrease in property values in 2024, with prices falling by £1,300.
Overall, 43% of homes in the region saw a decline in value of at least 1%. Next on the list was the South East (41%) and South West (40%).
By contrast, just 19% of homes in the North East fell in value, followed by 22% in the West Midlands and 23% in Yorkshire and Humberside.
Richard Donnell of Zoopla says: 'The housing market returned to growth in 2024, but the pattern of home value changes is far from uniform.
'There is headroom for prices to increase in markets where housing is affordable compared to incomes, which covers many parts of northern England and Scotland.
'In contrast, affordability is more of a constraint on price rises in Southern England, where the market continues to adjust to higher borrowing costs.'
The five towns with the highest proportion of properties that fell in value were all located in the South East of England.
Broadstairs in Kent topped the list, with 89% of homes seeing a drop of at least 1%.
| South East | Broadstairs | 89% | 11,800 | -£15,300 |
| South East | Herne Bay | 88% | 17,400 | -£16,300 |
| South East | Westgate-On-Sea | 87% | 3,700 | -£17,900 |
| South East | Deal | 85% | 15,600 | -£11,700 |
| South East | New Milton | 83% | 11,400 | -£18,600 |
Source: Zoopla
Towns in the South East also dominate the list of largest decreases in value in 2024.
Property values in New Milton in Hampshire fell by £18,600, followed by Westgate-on-Sea in Kent, which recorded a drop of £17,900.
| South East | New Milton | -£18,600 | 83% | 11,400 |
| South East | Westgate-On-Sea | -£17,900 | 87% | 3,700 |
| South East | Herne Bay | -£16,300 | 88% | 17,400 |
| South East | Broadstairs | -£15,300 | 89% | 11,800 |
| South West | Ferndown | -£14,400 | 83% | 11,500 |
Source: Zoopla
To get the most accurate picture of how much your house is worth, it is important to look at the localised house price data rather than national averages.
The Land Registry's 'price paid' dataset allows you to search sold prices right down to individual houses and streets. The downside is that the data often takes many months to be updated after sales have gone through.
To get the most up-to-date view of your local property market, it's worth looking at property portals such as Rightmove and Zoopla and speaking to local agents.
Portals list the prices that sellers are asking for their properties, which may not reflect the amount they'll actually get.
However, portals also display when homes were originally listed and if they've recently been reduced, which can give you a guide as to whether the asking price is realistic.
It's likely to be a strange few months for the property market, with upcoming changes to stamp duty rates in April likely to affect the number of sales going through.
Looking longer term, mortgage rates are likely to fall, but not significantly. This means the market will still be very price-sensitive, and sellers will have to be realistic if they want to shift their home quickly.
You'll also need to weigh up the cost of moving home. Recent research shows it costs an average of around £14,000 to move, taking into account costs such as estate agents, conveyancers and house surveys.
If you're not sure what to do just yet, see our guides on house prices and mortgage rates for the latest data, and take a look at our recent story on whether to buy, sell or stay put in 2025.
