ONS House Price Index – April 2025
The average monthly rate of house price growth in April fell to -2.7%.
The average annual rate of house price growth in April was up 3.5%
As a result, the average UK house price remains at £265,000.
Responding to Sales
Nathan Emerson, CEO of Propertymark:
“The first half of 2025 has proven very different from the expected trends we would normally witness within the housing market each year. We had the effect of Stamp Duty threshold changes across England and Northern Ireland completely alter consumer habits. The housing market witnessed a sizable uplift in both mortgage approvals and property transactions, as many people looked to complete on their house purchase, leading towards the start of April.
“As we progress further into the traditionally busy summer period, we are likely to see momentum regarding house prices; however, this will likely depend on consumer affordability and confidence. Many people will rightly be closely watching the Bank of England, as they make their next decision on the base rate tomorrow afternoon.”
Jean Jameson, Chief Sales Officer at Foxtons:
“After a strong Q1, May was a month of rebuilding – both in terms of applicant numbers and vendor activity. We’re encouraged by the renewed engagement from sellers and buyers alike. It’s a steady foundation to build on going into summer.”
CEO of Yopa, Verona Frankish:
“A 2.7% monthly reduction is quite a significant drop in sold price values but it’s important to note that today’s figures relate to market performance in April, directly following the stamp duty deadline on 31st March.
Therefore, what we’re seeing is a brief market correction, most likely driven by those who missed the deadline renegotiating in order to account for the increased cost of purchasing.”
Director of Benham and Reeves, Marc von Grundherr:
“Whilst the monthly rate of growth declined in the month following the stamp duty deadline, we’ve still seen positive movement on an annual basis and this long term measure is a far more accurate view of overall market health.
In the months that have followed, we’ve seen buyers and sellers push on with their plans to move and so any initial reduction in house prices as a result of the stamp duty deadline will have been short lived.”
Responding to rental prices and lettings:
Nathan Emerson, CEO of Propertymark:
“The private rental sector is facing much evolution across nearly all corners of the UK currently. We have the recent publication of the Housing (Scotland) Bill progressing through the final stages of the Scottish Parliament, and the Renters’ Rights Bill in England is also approaching its final stages in Westminster.
“These pieces of legislation will bring seismic change for those who rent and will represent some of the biggest differences within the rental market in decades. There has been much discussion and immense concern for many landlords, with considerable numbers contemplating selling their properties, with the potential to lessen supply even further.”
Gareth Atkins, Managing Director of Lettings:
“London’s rental market came back with real force in May. We saw a 35% surge in applicant demand alongside sustained growth in supply, a clear sign of a market gaining strength and momentum. Central London continues to outperform, and renters are re-engaging with pace and purpose. As we move into summer, the lettings landscape is vibrant, competitive, and full of opportunity for both landlords and tenants.”
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