UK house prices sit above pandemic market peak
The latest research from Yopa has found that, six years on from the first Covid lockdown (23rd March 2020), the average UK house price remains 1.7% above the peak reached during the pandemic property market boom, despite the more subdued market conditions seen since.
Yopa analysed* average house price data at three key points in time – January 2020 prior to Covid arriving in the UK, September 2022 when the pandemic-fuelled property market boom peaked, and the latest available data for December 2025 – in order to reveal where house prices continue to sit higher than the pandemic market boom.
The research shows that house prices surged by 26.5% across the UK between January 2020 when Covid first arrived in the UK, and September 2022 when the average UK house price hit its pandemic peak before cooling over the following years until early 2025 when it once again reached this price threshold.
Today, the average UK house price stands at £270,259, which remains 1.7% above the previous pandemic peak of £265,727 seen in September 2022.
In fact, house prices continue to remain above the pandemic peak across the majority of the UK.
At a national level, England (0.6%), Wales (3.5%), Scotland (5.0%) and Northern Ireland (17.8%) are all currently home to an average house price above that of the pandemic market peak.
At a regional level, the majority of regions in England also remain above the peak seen during the pandemic boom, with the East Midlands, North East, North West, West Midlands, and Yorkshire and the Humber all recording higher house prices today.
In contrast, just four English regions are currently seeing house prices sit below their pandemic peak, with the East of England down -2.0%, London down -4.8%, the South East down -3.3%, and the South West down -4.2%.
Further analysis at local authority level highlights the scale of this property market resilience.
Of the 360 local authorities analysed across the UK, 233 are currently home to an average house price that is higher than at the peak of the pandemic market, accounting for 64.7% of all areas.
Verona Frankish, Chief Executive Officer at Yopa, commented:
“There’s been a lot of doom and gloom surrounding the property market of late, however, it wasn’t that long ago that the headlines were focused on the pandemic property market boom and just how quickly house prices were climbing, fuelled by the stamp duty holiday.
We did see house prices cool as this stamp duty incentive was gradually phased out, but what’s notable is that prices across the majority of the UK have since stabilised and, in many cases, crept back above the levels seen at the height of the boom.
That really puts the current market into perspective as, whilst market sentiment may not be as buoyant as it was during the pandemic, many homeowners are still sitting on values that exceed even the unprecedented surge seen during Covid.”
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