EXPRESS INDEX - HOUSING MARKET UPDATE - April 2025

There are many UK housing market indexes released every month and we are attempting to provide the ultimate, comprehensive overview to the very fragmented reports available.

UK HOUSING MARKET SNAPSHOT

Average House Price (Price Paid)

£268,000

Monthly Change 0.0%

Annual Change 5.4%

5 Year Change 17.1%

Source: HM Land Registry

Average House Price (Asking Price)

£377,182

Monthly Change 1.4%

Annual Change 1.3%

5 Year Change 15.06%

Source: Rightmove

Number of Sales Completed

50,126

Monthly Change 18.2%

Annual Change 21.8%

5 Year Change 52.08%

Source: HM Land Registry

Sales Agreed

Monthly Change 15%

Source: Rightmove

Total Available Properties

54,7570

Available Properties Change

Monthly Change 5.8%

Average Time on Market

174 days

Source: Home

Average Time to Sell

64 days

Source: Rightmove

Price Reductions

2.4% properties price reduced last month

Source: Home

Mortgage Approvals

Annual Change 8.2%

Source: Bank of England

POSTCODE DISTRICT DATA

Region
Asking Price Data

REGIONAL HOUSE PRICES

NATIONAL HOUSING MARKET COMMENTARY

"The average price of property coming to the market for sale rises by 1.4% (+£5,312) this month to a new record of £377,182. This is the first monthly price record since May 2024, with asking prices and activity typically higher during the Spring season. In a sign of continuing market resilience, this month’s price increase is larger than the average April increase of 1.2%, despite the number of available homes for sale remaining at a 10-year high for the time of year. Whilst a seasonal increase in asking prices is a positive sign for the health of the market, new sellers need to be cautious of the high competition for buyers that they may face when setting their asking price. Rightmove’s research shows that homes that are priced realistically from the start of marketing, rather than reduced later, are more likely to find a buyer, and in less than half the time on average. Meanwhile, the latest snapshot of market activity suggests that the stamp duty increase in England on 1st April hasn’t deterred most movers going through the sales completion process, and that new buyers and sellers still feel confident to enter the market. Over the last few days, the effects of President Trump’s tariff announcements have been unfolding. It’s too early to tell what the repercussions may be on the UK property market, but one potential impact of the announcements is that mortgage rates could drop more quickly, boosting buyer affordability."

"The March 2025 RICS UK Residential Survey results signal a further deterioration in sales market conditions, with both domestic and global macroeconomic concerns seemingly starting to weigh more heavily on sentiment. In keeping with this, respondents have turned increasingly cautious on the near-term sales outlook, even if twelve-month expectations are still mildly positive for now."

REGIONAL HOUSING MARKET COMMENTARY

"Focussing on house prices, the survey’s headline gauge returned a net balance of +2% this month, easing from readings of +20% and +11% in January and February respectively. As such, recent feedback is consistent with price growth largely flattening out over the past few months. This picture is mirrored across most parts of the UK, although Scotland and Northern Ireland continue to show a more resilient upward trend in house prices at this stage."

"Buyer demand in southern England is higher than a year ago, but it is failing to keep pace with the growth in supply. This explains why house price inflation is running at +1% or lower across London, the South East, South West and Eastern regions. At a localised level, prices are falling in Truro (-0.8%) and Torquay (-0.7%) in the South West, both second home hotspots. In the South East, house prices are falling in the Dartford (-0.8%), Ipswich (-0.2%) and NW London (-0.1%) postal areas."

AVERAGE HOUSE PRICE CHANGES SINCE 1995

HOUSE PRICE PREDICTIONS FOR 2021
Tim Bannister, Director of Property Data at Rightmove: 4% rise

“2021 has a lot of variables, and so is not an easy one to call, but with Rightmove’s unique leading indicators of buyer and seller behaviour we are confident that the housing market will continue to outperform general expectations next year as it did this."

"Our 2021 forecast of a 4% price rise is more conservative than the unsustainable 6.6% national average seen this year. There’s likely to be a lull in quarter two unless the stamp duty holiday is extended, but for many buyers its removal will not be make or break, though may lead them to reduce their offers to a degree to compensate for the higher tax, and indeed many sellers may be prepared to help to mitigate their buyer’s financial loss."

"First-time buyers will remain largely exempt, so in most cases will be no worse off. The maximum savings of £2,450 in Wales or £2,100 in Scotland are considerably less decisive than the £15,000 available in England for a house costing £500,000 or more, which does however only apply to a small part of the market.”

Russell Galley, Managing Director of Halifax: 2% to 5% fall

"Despite the deepest recession for centuries, house prices have risen over the past year at their fastest rate since 2016, with mortgage approvals also at their highest level for over a decade. This growth has been driven by a shift in demand from buyers as a result of increased home working and a desire for more space, whilst the stamp-duty holiday brought forward many transactions that might otherwise have been planned for next year."

"With the stamp duty holiday also due to expire in March - and lower levels of demand - housing market activity is likely to slow. Taking all of this into account, the post-summer surge in house prices is unlikely to be sustained. Prices are expected to fall by between 2% and 5% next year, although forecast uncertainty is much higher than usual given the current economic and political environment."

Richard Donnell, Research and Insight Director at Zoopla: 1% rise

“Central to our outlook is lower levels of turnover by long-run standards, which over time increases the scarcity of homes for sale."

"We expect the supply of properties for sale to moderate over 2021, which will restrict choice for consumers."

"This creates a scenario in which any improvement to the economic climate, growth in employment levels, or an uptick in consumer sentiment will in turn boost demand, increase transaction volumes in line 2019 levels, and could provide impetus for house price growth in 2022."

Lucian Cook, Head of Residential Research at Savills: 0% change

“We do expect the economic effects of the pandemic to weigh more heavily on the housing market next year."

Nick Barnes, Head of Research at Chestertons: 1.5% rise

"Assuming no further major systemic shocks, we anticipate that the brunt of Covid’s impact on employment will be felt by the mainstream market and we forecast that after an exceptional year of growth in 2020, prices growth across the UK will slow to 1.5%. Greater London prices have risen less but are likely to fall more, and we expect them to drop by 2% by the end of the year."

HOUSE PRICE PREDICTIONS
IMPORTANT LIABILITY STATEMENT

An ExprEstimate is simply an estimation of what your property could be worth in current market conditions. This is calculated using an automated computerised system. We use a number of publicly available data sources to help calculate our estimations, maps, tables and other content. This data may be inaccurate or incomplete at times and therefore must not be relied upon. Our valuation estimations, maps and tables are provided to you for personal use, general interest and to provide homeowners with a useful starting point when trying to assess their property’s current value and the UK property market in general. These estimates, maps, tables and any other content should not be relied upon for any type of commercial transaction. We strongly recommend that you seek a professional valuation from a qualified surveyor / qualified professional before any property sale, purchase, mortgage or related purposes. We shall not be liable for any losses you or anyone else suffers as a result of relying on the valuations, maps, tables and any other content. This includes not being liable for any loss of profit, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss. We cannot and do not guarantee that the Service will be constantly available or error-free. Also, our liability to you is limited to £100. WE DO NOT EXCLUDE OR LIMIT OUR LIABILITY FOR ANYTHING WE ARE NOT ALLOWED TO AND YOUR STATUTORY RIGHTS AS A CONSUMER ARE NOT AFFECTED BY ANY OF THESE TERMS AND CONDITIONS.