STORY
The latest UK House Price Index shows that average property values rose by 1.1% between February and March 2025, taking the national average to £271,000 – a 6.4% increase on March 2024.
Key national figures:
Monthly change: +1.1% (versus +0.2% a year earlier)
Annual change: +6.4% (up from a revised +5.5% to February 2025)
Average price: £271,000
Regional highlights:
England overall: Prices rose 1.3% in March and are up 6.7% year-on-year, with the average English home now £296,000.
North East: biggest monthly gain (+4.2%) and the highest annual rise (+14.3%), average £168,000.
London: only region to see a monthly fall (−0.3%), with modest annual growth (+0.8%), average £552,000.
Wales: A slight monthly dip (−0.2%) but a 3.6% annual increase, placing the average Welsh home at £208,000.
Northern Ireland: (published quarterly) latest data show continued gradual rises.
Market activity:
Transactions: An estimated 177,000 property sales (value £40,000+) completed in March—104.3% more than a year ago, and a 61.7% increase on February, seasonally adjusted.
Funding mix in England: Mortgage-backed purchases averaged £301,000 (+7.1% annual) while cash buyers paid £282,000 (+6.0%). First-time buyers’ average price was £250,000 (+7.7%).
Property types in England:
Detached: £471,000 (+5.0% annually)
Semi-detached: £291,000 (+8.5%)
Terraced: £247,000 (+8.4%)
Flats/maisonettes: £231,000 (+3.9%)
New builds vs existing homes:
New-build prices remain volatile due to small sample sizes; January data show new homes at £416,000 (+17.4% year-on-year) versus £285,000 (+3.6%) for existing resales.
HM Land Registry Chief Executive Clinton Blackburn said “March’s figures underline the resilience of the housing market, with strong activity and price rises outside London. Buyers continue to compete for a still-limited supply of homes.”