0:01 AM, 13th June 2025, About 4 weeks ago
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The housing market showed no price movement in April, with average home prices in England and Wales holding steady at £359,200, according to the e.surv Acadata house price index.
Despite this stagnation, a stark regional divide has emerged, with northern areas displaying resilience while southern regions, particularly London, face challenges.
The capital saw a monthly price drop of 1.7%, with average homes now costing £642,386.
The South East and South West also experienced declines of 0.4%, with prices at £441,962 and £355,577, respectively.
In contrast, the North East enjoyed a 1.6% monthly rise, reaching £211,226, and the North West saw a 0.9% increase to £262,836.
Rob Owens, the head of research at Acadata, said: “Despite improving household finances and easing mortgage rates, the housing market has not seen significant growth.
“London and the south are the primary drivers of this plateau.”
Annually, prices across England and Wales are 1.4% lower than last year but between March and April the rise was 0%.
A surge in transactions before the April 1st stamp duty concession deadline provided a temporary boost, but the anticipated slowdown was less severe than expected, suggesting underlying market strength.
Rising wages, falling mortgage rates, and expectations of further base rate cuts have encouraged some households to relocate, particularly as rents outpace property prices.
However, challenges persist and the Bank of Mum and Dad, which supports nearly half of first-time buyers, may play a reduced role due to slower price growth and rising living costs.
Northern England, Wales and the Midlands showed positive year-on-year price growth in March, while southern regions, especially London, continue to lag.
London’s weakness accounts for the entire 1.4% annual decline in national prices.
However, despite these disparities, e.surv says the market outlook remains cautiously optimistic, with expectations of stability in 2025.
