London records the growth of zero house prices for 2024

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London’s home prices failed to grow last year in a flagrant contradiction with the rest of the United Kingdom, as the pressure of the ability to afford potential buyers in the Gulf has kept.

The average house in the capital cost 549,000 pounds in December 2024, unchanged from the same month in 2023, according to the data published by the National Statistics Office on Wednesday.

Annual growth zero in capital compared to the average Home prices in the United Kingdom 4.6 percent to 268,000 pounds rises in 12 months to December, an increase of 3.9 percent in the year to November and the fastest pace since January 2023.

ONS said that some of the most affordable areas in the UK recorded the strongest growth, as the prices of homes were 9 percent, 6.9 percent and 6.7 percent in Northern Ireland, Scotland and northeastern England, respectively.

“Not since it was a” race “for space” is the difference between London prices and the rest of the United Kingdom, “said Gonathan Hopper, CEO of Garrington Property Finders.

“The capital buyers since (autumn budget) have become very sensitive to prices, and ready to negotiate hard on the price or simply search elsewhere.”

Richard Donel, CEO of Property Consultance Houseful, said that homes in the capital “have continued to keep the pressure of the costs and the high level of prices in relation to income compared to the rest of the country.

“This is despite the growth of jobs faster and high levels of migration for work and study, which had a greater impact on the highest rental values,” he added.

London’s home prices are nine times annual profits, much higher than 5.9 for the United Kingdom as a whole, according to community building numbers at the country level.

Mortgage payments as a percentage of profits among buyers for the first time are approximately 60 percent in capital, compared to 36 percent across the country.

London also has more apartments Less performance in other types of property During the past year.

The flat prices in the UK increased by 2.3 percent in 12 months to December, compared to an increase of prices of 5.6 percent for semi -separate homes and 5.2 percent for separate property, according to the data published by the land record on Wednesday.

The recession coincides with home prices in London last year A. Performing performance continues Relative to the national average since 2016, which reflects the effect of Britain’s exit from the European Union, the Kovid-19, when buyers raced to buy larger real estate in the suburban and rural areas.

Since 2021, high interest rates have also led to an increase in mortgage rates, and beating potential buyers.

The ONS said that fewer families capable of buying a property in capital and limited shares, the rents continued to rise at a faster rate than in the rest of the United Kingdom.

The rents increased by 11 percent in the year to January in London, as they reached average of 222 pounds. This increase was 8.7 percent higher in the country, and London’s record was never less than 11.6 percent in November 2024.