House Prices on the Rise: March 2025 Update
HM Land Registry has confirmed today (Wednesday 21 May) that the average UK house price in March 2025 was £271,000—a 6.4% increase compared to March 2024 and up 1.1% from February 2025.
Breaking it down by region:
England saw a 6.7% annual rise in average house prices.
Wales recorded a more modest 3.6% increase.
Scotland experienced a 4.6% year-on-year uplift.
Northern Ireland led the pack, with house prices 9.5% higher than in March 2024.
Jason Tebb, President of OnTheMarket, comments on March UK HPI:
“Although historic, this data shows house prices continued to rise on an annual basis in March, with the average property price £16,000 higher than a year ago, as buyers tried to benefit from the stamp duty concession before it expired at the end of the month.
“With the stamp duty holiday out of the way, interest rate reductions are even more important to boost activity and confidence in the market. However, with inflation spiking by a higher-than-expected 3.5 per cent in April, as tax changes and price hikes came into effect, this may slow the pace of rate reductions from the Bank of England.
“Affordability remains a challenge although there remain a good range of sub-4 per cent mortgage options. However, with Swap rates edging upwards in recent weeks, these may not be around for long. With buyers focused on affordability and the price they are prepared to pay, sellers should seek advice from an experienced local agent and price accordingly.”
Breaking it down by region:
England saw a 6.7% annual rise in average house prices.
Wales recorded a more modest 3.6% increase.
Scotland experienced a 4.6% year-on-year uplift.
Northern Ireland led the pack, with house prices 9.5% higher than in March 2024.
Jason Tebb, President of OnTheMarket, comments on March UK HPI:
“Although historic, this data shows house prices continued to rise on an annual basis in March, with the average property price £16,000 higher than a year ago, as buyers tried to benefit from the stamp duty concession before it expired at the end of the month.
“With the stamp duty holiday out of the way, interest rate reductions are even more important to boost activity and confidence in the market. However, with inflation spiking by a higher-than-expected 3.5 per cent in April, as tax changes and price hikes came into effect, this may slow the pace of rate reductions from the Bank of England.
“Affordability remains a challenge although there remain a good range of sub-4 per cent mortgage options. However, with Swap rates edging upwards in recent weeks, these may not be around for long. With buyers focused on affordability and the price they are prepared to pay, sellers should seek advice from an experienced local agent and price accordingly.”
