Somerset house prices increased by 3.5% in 2024, reaching £282,000, but lagged behind the 4.6% UK average growth.
In Somerset, the average house cost £282,000. This covers the year up to December 2024. Land Registry numbers show this data. That price is 3.5% higher than the year before.
This means an extra £9,500 for each house sold. This is Somerset county’s biggest percentage increase. Bath and North East Somerset saw a 1.7% rise; the average price there reached £410,000. North Somerset prices rose 1.2% to £309,000.
All three Somerset council areas grew slower. They were all below the national average increase.
Across the UK, the average home sold for £268,000. This was during the same year to December 2024. That UK average is 4.6% more than in 2023.
Blackburn with Darwen had the biggest price jump in 2024. Homes averaged £159,000 there. That is one of the UK’s lowest average prices overall. However, that price is 13.1% higher than last year. This is the largest percentage increase within the UK.
Lisburn and Castlereagh saw the next biggest increase at 11.4%. Inverclyde followed closely behind with an 11.1% increase. Fermanagh and Omagh also increased by 11.0%. Tewkesbury matched that same increase of 11.0%.
Some areas saw prices fall. Kensington and Chelsea fell the most, down 22.9%. Several London areas saw big drops too. City of Westminster fell 22.2% and Hammersmith and Fulham dropped 10.5%.
Kensington and Chelsea’s average price is highest. Their average home costs £1,070,000. City of Westminster is second at £868,000.
The cheapest area is Inverclyde. Homes there average only £113,000. Burnley is low too at £122,000.