9:09 AM, 8th May 2025, About A week ago
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The UK’s house prices edged up by 0.3% in April, reversing a 0.5% dip from March, bringing the average property value to £297,781, according to Halifax.
This marks an increase of nearly £900, with the annual growth rate climbing to 3.2%, the highest this year.
Northern Ireland, Wales and Scotland led the UK in annual price growth.
Northern Ireland saw the highest increase at 8.1%, with average prices at £208,220.
Wales followed with a 4.7% rise, averaging £229,079, while Scotland recorded a 4.6% uptick, with homes costing £214,011 on average.
In England, the North West outperformed other regions with a 4.1% annual increase, bringing average prices to £240,975.
London, despite a modest 1.3% growth, remains the priciest market at £543,346.
The South West lagged with a 0.9% rise, with properties averaging £304,451.
Amanda Bryden, the head of mortgages at Halifax, said: “We know the stamp duty changes prompted a surge in transactions in the early part of this year, as buyers rushed to beat the tax-rise deadline.
“However, this didn’t lead to a significant increase in property prices, with the last six months characterised by a stability in prices rarely seen since the pandemic.
“While the market has cooled slightly since this rush, buyer activity remains strong in comparison to recent years.”
She added: “Overall, the market continues to show resilience despite a subdued economic environment and risks from geopolitical developments.”
Nathan Emerson, Propertymark‘s chief executive, said: “This is a sign of sustained confidence in the UK’s housing market following a recent stamp duty surge in homebuying, and it should give those sellers hoping to take advantage of the traditionally busier spring and summer months motivation to move up the housing ladder.
“There has been recent data showing confidence in the mortgage market is fragile, and other reports suggesting that mortgage rates are at their lowest level since 2022.”
Matt Thompson, the head of sales at Chestertons, said: “In April, some house hunters paused their search amid the Easter holidays, but sellers remained motivated which resulted in an uplift in the number of properties put up for sale.”
Rosie Hooper, a chartered financial planner at Quilter Cheviot, said: “Given the time it takes to finalise a property purchase, the April price data offers one of the clearest indications yet of how the market is functioning without the support of favourable stamp duty rates and it suggests a stabilisation rather than a significant drop.
“While activity may have surged earlier in the year, prices are now responding to a more subdued, post-incentive environment.”
Chief sales officer for Foxtons, Jean Jameson, said: “The UK property market has stood firm so far this year, with property values up on both a monthly and annual basis in April, reversing the downward monthly trend observed in previous months.
“We’ve also seen an uplift in market activity on all fronts with respect to buyer enquiries, more sellers entering the market and more deals being negotiated.”
Jason Tebb, the president of OnTheMarket, said: “While the stamp duty concession is out of the way, the housing market continues to shake off external economic concerns and demonstrate remarkable resilience.
“With property prices remaining relatively steady, this suggests that affordability is having an impact on the amount buyers are willing and/or able to pay.
“Sellers should seek advice from an experienced local agent to take into account local market nuances, ensuring their asking price reflects this.”
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