Home Owners
FAQs
House prices increased by 3.7% year on year in November 2024, taking the average house price to £268,144, Nationwide’s House Price Index reported. Commenting on the figures, Nationwide’s Chief Economist Robert Gardner, said, ‘The price of a typical UK home rose by 3.7% year on year in November, a strong rebound from the 2.4% recorded the previous month and marking the fastest rate of annual growth for two years. House prices increased by a robust 1.2% month on month, after taking account of seasonal effects, the largest monthly gain since March 2022. House prices are just 1% below the all-time high recorded in the summer of 2022. Stay up to date with our monthly House Price Report.
UK house prices are expected to rise in 2025, with experts’ predictions ranging from a 1.1% increase predicted by the Office for Budget Responsibility to 4% growth forecast by Savills’ House Price Index and Rightmove. Read more in our guide House price predictions: How much will prices go up by?
What are the house price predictions for 2025?
Are houses selling?
Yes. HMRC estimates 111,100 residential property transactions completed in October 2024, on a non-seasonally adjusted basis. This was 23% higher than October 2023 and 17% higher than September 2024.
Should I sell my house now or wait?
If you need to sell your house, perhaps because you need to relocate, then don’t let speculation over property prices delay you making this decision. No-one really knows what will happen with house prices in the future so you need to do what is right for you.
And if you’re wondering whether to wait because you hope your property will increase in value, you may find the property you want to buy will also increases in value too, so the gains are really relative, unless you’re cashing out of the housing market altogether.
If you’re hoping to sell your home and want to act quickly, then we can help.
When is the most popular time to sell a house?
No need to focus too much on targeting what is traditionally the most popular time. People are moving all year round.
Should I sell my house now or extend it?
Looking for more evidence it’s the right time to sell house? Now is a good time to sell.
Extending, there’s lots to consider: Will your extension plans add value to your home? Will you need planning permission? Should you engage an architect and if so what are their fees?
Should I sell my house now or rent it out?
Renting out your house may make sense if for example, you’re moving temporarily, perhaps for work, and you want to keep the option of moving back to your old house. Or if it’s an attractive rental property likely to generate good rental income.
Should I sell my house now to avoid falling into negative equity?
Negative equity occurs when the market value of your house is below the outstanding mortgage secured on it. Negative equity is more common when house prices are falling and it is a major concern when you want to sell your home. Whether you are at risk of this depends on your circumstances.
Should I sell my house now to avoid falling into negative equity?
Negative equity occurs when the market value of your house is below the outstanding mortgage secured on it. Negative equity is more common when house prices are falling and it is a major concern when you want to sell your home. Whether you are at risk of this depends on your circumstances.
Should I sell my rental property?
If you own a Buy to Let property, you may be asking should I sell my house now? Various factors may have made owning your Buy to Let property less profitable in recent months and years.
So if the figures don’t stack up for you anymore and you want to sell, you’ll need to decide whether to sell your Buy to Let with sitting tenants or with vacant possession.
However, selling a house with vacant possession doesn’t mean you have to miss out on rental income if you think a short-term let is possible whilst you sell your home.
We can also offer a transformation service if the property needs some improvements or staging to help it sell.
Should I sell my house now and rent?
Deciding to sell your house and rent is a big decision and not one to take lightly. Not only may house prices increase by more than you expect by the time you come to buy, there is also strong demand for rental properties in many areas so you may find you have to pay more for your rent than you are on your mortgage payments. So if you’re asking should I sell my house now and rent, do your research thoroughly.