UK house price latest 2025: what's happening to property values near you

The average house price increased 4.3% over the last year, but some areas have seen values rocket by as much as 14.3%. See what's happening to prices near you.

Feeling a bit lost with so many house price reports out there? 

The HomeOwners Alliance House Price Watch looks at all the information from the various property indices to give you one easy-to-digest round-up of everything you need to know.

So, let's look at how prices have changed over the past month and year.

What’s going on with house prices?

The first thing to point out is that values have fallen sharply since Stamp Duty rates increased in April. 

According to the Land Registry, which has the most authoritative set of property data, prices dropped £6,000 compared to March, with the average home now worth £265,000.

However, this drop needs to be considered in the context of the strong house price growth seen in recent years, and the market remains in a strong position.

As Homeowners Alliance notes: “With higher Stamp Duty rates from 1st April, transactions in April fell to their lowest level in 15 years after a surge in March.

“And, with homes for sale at a decade high, house prices fell in May and annual house price growth slowed.

“However, reports are that agreed sales continue to be ahead of last year."

To hammer home this point, house prices are still 3.2% higher than a year ago when year average the changes seen across all the major indices.

What will happen to house prices for the rest of 2025?

As a result, the dip is expected to be short-lived and house prices will likely rise over the remainder of the year.

As Rightmove notes: “The slowdown is perhaps understandable after the busy first quarter of the year, though there are early signs that the lull may be short-lived.

“Mortgage rates will be crucial in determining the level of buyer activity for the rest of the year.

“They have been trickling downwards, and there is hope that the recent Bank Rate cut, the second of the year, may spur on further reductions from lenders.”

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What's happening to house prices near me?

Land Registry has the most comprehensive data regarding housing stock, and it provides a handy regional breakdown of house prices across the UK.

This data takes slightly longer to compile, so isn't quite as up-to-date as the other property indices – its latest prices cover up to April 2025 – but it nonetheless provides an interesting insight into how areas are faring relative to each other. 

In the 12 months up to that point, prices increased in every region.

The housing market in Northern Ireland has proved the by far most buoyant over that period, with prices jumping 9.5% during that period.

The North East of England (6.4%), Scotland (5.8%) and Wales (5.3%) also saw strong growth over the year.

However, property values were far more subdued in the South West of England, where prices increased just 0.9%.

See the table below for a full breakdown of prices by region. 

What the indices say

HomeOwners Alliance
“With higher Stamp Duty rates from 1st April, transactions in April fell to their lowest level in 15 years after a surge in March.

“And, with homes for sale at a decade high, house prices fell in May and annual house price growth slowed.

“However, reports are that agreed sales continue to be ahead of last year.

“There are early signs of more buyer enquiries reported by Rightmove and Zoopla, and with mortgage affordability improving, activity is expected to regain pace in the months ahead with modest house price growth.

Rightmove
“New seller asking prices rise by 0.6% this month, the lowest at this time of year since 2016, as the decade-high number of homes for sale limits price growth.

“After a busier than usual March, new buyer demand slowed to 4% below the same month in 2024.

“However, demand year to date is still 3% ahead of last year. April saw what appears to be a post-Stamp-Duty-increase lull in new buyer demand.

“This slowdown is perhaps understandable after the busy first quarter of the year, though there are early signs that the lull may be short-lived.

“Mortgage rates will be crucial in determining the level of buyer activity for the rest of the year.

“They have been trickling downwards, and there is hope that the recent Bank Rate cut, the second of the year, may spur on further reductions from lenders.”

Nationwide
“Annual UK house price growth was marginally stronger in May at 3.5%, compared with 3.4% in April.

“House prices rose by 0.5% month on month, after taking account of seasonal effects.

“Official data confirmed that there was a significant jump in residential property transactions in March, with buyers bringing forward their purchases to avoid additional Stamp Duty costs.

“Owner occupier house purchase completions were around twice as high as usual and the highest since June 2021 (which was also impacted by Stamp Duty changes).

“Nevertheless, mortgage approval data suggests that market activity appears to be holding up well following the end of the Stamp Duty holiday.

“Despite wider economic uncertainties in the global economy, underlying conditions for potential home buyers in the UK remain supportive.

“Borrowing costs are likely to moderate a little if Bank Rate is lowered further in the coming quarters as we, and most other analysts, expect.”

Halifax
"Small monthly movements point to a housing market that has remained largely stable, with average prices down by just -0.2% since the start of the year.

“The market appears to have absorbed the temporary surge in activity over spring, which was driven by the changes to stamp duty.

“Affordability remains a challenge, with house prices still high relative to incomes.

“However, lower mortgage rates and steady wage growth have helped support buyer confidence.

“The outlook will depend on the pace of cuts to interest rates, as well as the strength of future income growth and broader inflation trends.

“Despite ongoing pressure on household finances and a still uncertain economic backdrop, the housing market has shown resilience – a story we expect to continue in the months ahead."

Zoopla
“The number of housing sales is on the rise with home buyers return to the market after the end of stamp duty relief and the Easter holidays.

“There are 13% more homes for sale than a year ago. The average estate agent office has 35 unsold homes.

“Most of these home sellers are also buyers, which means plenty of interest for well-priced homes. It’s important that sellers are realistic with their expectations on price.

“Our data shows the average home sale is currently being agreed at 3% (or £16,000) below the average asking price, a level that has been stable over recent months.

“Strong competition in the mortgage market and less stringent affordability testing is set to support buyer demand and sales volumes over the second half of 2025.”

RICS
"The May 2025 RICS UK Residential Survey results continue to signal a generally soft market backdrop at present, as indicators on buyer demand and sales activity remain negative for the time being.

“Notwithstanding this, near-term expectations now sit in broadly neutral territory, suggesting conditions may stabilise over the next few months.”