HM Land Registry latest price data


HM Land Registry published the latest price data on 28th February 2024 which is now available on The Move Market - this data includes properties sold up until the end of January 2024.

Throughout the pandemic the UK housing market underwent a surprising boom in prices and housing activity - with people working more from home, they moved further from their offices.

Many people required more space for home working, flats fell out of fashion and larger detached houses with gardens became highly desirable as more and more people wanted a home office.

Since then, we've faced a rapid rise in interest rates and a surge in inflation which has driven the cost of living in the UK up substantially.

This is causing a cost of living squeeze that will cause a sharp change in the housing market that has not come through properly in the official numbers yet (due to the time lag between offer being made for a property and the transaction actually completing).

We expect offers being agreed to be hitting the published data in around 6 months, at which point we expect to see a weakening in property prices, especially in areas with limited disposable income.

What does all this mean?


Prices are now beginning to ease, given some areas have seen 20% plus year on year rises for the last year or two this has to be a good thing.

House price falls are definitely being seen in parts of the country, but price falls will probably accelerate across areas toward the end of 2023 and going into 2024.

When prices tip from rising to falling, housing chains become more risky as buyers withdraw offers late in the process. The knock on effect for other people in the chain is devastating as they can't complete their purchase until a new buyer is found.

If there is one thing to remember, it is to be pragmatic. If your buyer drops their offer to you, negotiate with them and with the person who you a buying from. After all, if you can all agree to knock 5% off the price, the whole chain can still go through and everyone still gets the home they want.