Overview

• UK house prices rose 5.4% year-on-year in February 2025, the highest growth rate since December 2022, according to the Office for National Statistics.
• The surge is attributed to buyers hurrying to finalize transactions ahead of reduced stamp duty exemptions starting in April 2025.
• Regional disparities persist, with the North West experiencing 8% growth while London saw a modest 1.7% increase.
• Average house prices reached £292,000 in England, £207,000 in Wales, £186,000 in Scotland, and £183,000 in Northern Ireland, reflecting varied growth trends.
• Falling swap rates and expectations of further interest rate cuts are improving mortgage affordability, supporting continued market activity.