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UK House Prices Adjust to End of Stamp Duty Holiday

Mortgage costs fueled by stubborn inflation could temper buyer demand

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Overview

  • ONS figures show UK house prices fell 2.7% month-on-month in April 2025 with annual growth slowing to 3.5%.
  • London was the only English region where prices rose in April, up 2.6% month-on-month and lifting annual inflation to 3.3%.
  • North East England led regional annual growth at 6.4% in April while the South West recorded the slowest pace at 0.9%.
  • Prime London mansions saw a 3.2% year-on-year price decline in May alongside a 36% slump in transactions, according to Lonres data.
  • Average UK private rents climbed 7.0% to £1,339 per month in May as rental demand remained strong.