UK house prices rise for the first time since January

Wed, 7 May 2025, 11:27 p.m. 4 min read

UK location prices roseate successful April for the archetypal clip this year, buoyed by easing owe costs and dependable purchaser demand. Figures from lender Halifax amusement that location prices accrued by 0.3% past month, reversing the 0.5% driblet seen successful March and marking the archetypal gains since January.

The mean UK spot is present valued astatine £297,781, up from £296,899 successful the erstwhile month.

On an yearly basis, prices roseate by 3.2%, up from 2.9% successful March — the fastest yearly maturation complaint truthful acold this year.

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Amanda Bryden, caput of mortgages astatine Halifax, said: “UK location prices roseate by 0.3% successful March, an summation of conscionable nether £900. The yearly maturation complaint besides ticked up to 3.2%, reaching its highest level truthful acold this year. The emblematic UK spot is present valued astatine £297,781.”

Bryden attributed the emergence successful portion to a flurry of enactment earlier successful the twelvemonth arsenic buyers sought to bushed stamp work changes.

“We cognize the stamp work changes prompted a surge successful transactions successful the aboriginal portion of this year, arsenic buyers rushed to bushed the tax-rise deadline. However, this didn't pb to a important summation successful spot prices, with the past six months characterised by a stableness successful prices seldom seen since the pandemic,” she said.

Despite monthly fluctuations, prices person remained broadly level implicit the past half-year — down by conscionable £48 successful total, according to Halifax.

“Mortgage rates person continued to fall, with astir lenders present offering rates beneath 4%. Coupled with affirmative net maturation that has outpaced broader inflation, these factors person helped to steadily amended affordability for galore buyers,” Bryden said.

Looking ahead, she added: “Overall, the marketplace continues to amusement resilience contempt a subdued economical situation and risks from geopolitical developments. There is apt to beryllium a bump-up successful user terms ostentation arsenic household bills increase, but with further basal complaint cuts besides expected, we expect a akin inclination of humble terms maturation this year."

Northern Ireland led the UK’s location terms maturation with an yearly emergence of 8.1%, pushing the mean spot terms determination to £208,220. Wales followed with prices up 4.7% year-on-year to an mean of £229,079, portion Scotland saw a 4.6% summation to £214,011.

Among the English regions, the North West posted the strongest performance, with location prices rising 4.1% annually to an mean of £240,975.

London continued to spot subdued growth, up conscionable 1.3% annually. However, it remains the UK’s astir costly lodging market, with an mean spot costing £543,346. The South West recorded the slowest yearly terms maturation astatine 0.9%, with mean prices lasting astatine £304,451.