House prices rise for third consecutive month as data suggests a steady decline in negativity

The housing market could be heading for a summer boost, as house prices record a third consecutive month of growth, according to new data.

According to the latest e.surv House Price Index, the average sale price of homes in England and Wales rose by a modest 0.1% in March, reaching just over £359,000.

The market has also seen a short-term lift from buyers rushing to complete purchases before the stamp duty threshold ended in April.

Further momentum in the housing market

Rob Owens, head of research at e.surv, said: “The first quarter of 2025 has shown encouraging signs, driven by improving household finances and easing mortgage rates. Additionally, the rush to move homes before the end of stamp duty concessions has provided a short-term boost.

“Despite these gains, average annual prices remain slightly lower than a year ago and nearly 5% below the peak of late 2022.

“However, the data suggests a steady decline in negativity, with the market becoming more positive in the coming months.”

Mr Owens adds the stamp duty deadline before April saw an uptick in buyers.

He said: “The first quarter has seen a welcome pick-up on the back of improving household finances and easing mortgage rates. There has also been a short-term boost from households in England trying to move home before April 1st when the stamp duty concessions ended and higher rates returned for first time buyers and others.

“As affordability improves and wage growth continues, we hope to see further momentum in the housing market as we move through spring into summer.”

According to e.surv, affordability remains a challenge for many buyers, with average house prices in London reaching £652,163.

Even in the typically more affordable North West, prices have climbed to £205,119.