House Price Index June 2025
After a brief slowdown following the spring stamp duty changes, property transactions are picking up and more buyers are returning to the market. With homes for sale reported to be up 14% on a year ago, buyers have lots of homes to choose from and this is limiting house price inflation particularly in housing markets with higher average house prices -- where there is an additional affordability hurdle.
What’s happening nationally
House prices are up on average +0.1% over the past month while the rate of annual house price growth has slowed to 2.8%. Annual UK house price inflation slows as more homes for sale boosts buyer choice and limits price growth.
Most of the indices report steady or slowing house price growth over the past month. Land Registry reported a recovery from -2.7% in April to +1.1% in May, Halifax reported stable house prices in June and Nationwide (-0.8%) and Rightmove (-0.3%) reported falls. The rate of annual growth tends to be stable or down across the indices: Land Registry up slightly to +3.9%, Halifax steady at 2.5%, Nationwide down to 2.1%, Rightmove down to +0.8%.
Note that there has been a change of methodology in the calculation of the Land Registry house price index. From February 2025 reporting, January 2023 became the new reference period for inflation rates. Land Registry has been re-referenced because the types of property being sold can change over time.
Indices based on:
Land Registry – registered property transactions in May.
Nationwide & Halifax – mortgage valuations in June.
Rightmove – asking prices posted on Rightmove in June.
*Rightmove is not included in the index average as the basis for its index is different (asking price vs agreed sale price)
| Index reports: | Monthly change | Annual change |
|---|---|---|
| Land registry | +1.1% | +3.9% |
| Nationwide | -0.8% | +2.1% |
| Halifax | 0% | +2.5% |
| Rightmove | -0.3% | +0.8% |
| Average change | +0.1% | +2.8% |
House prices in your area
Regional house prices
House prices bounced back this month in most areas of the UK. Over the last year, house prices have increased in all areas with the biggest rises in areas where the average house price tends to be £200,000 or lower: Northern Ireland (+9.5%), Scotland (+6.4%), the North East (+6.3%), Wales (+5.1%) and Yorkshire and Humber (+5.1%).
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK are London (£566K), the South East (£381K), the East of England (£339K) and the South West (£304K). The cheapest regions are the North East of England (£159K), Northern Ireland (£185K), Scotland (£192K) and Yorkshire & Humber (£203K).
In terms of cities, the most affordable are: Aberdeen (£132K), Glasgow (£156K), Newcastle (£159K) and Sheffield (£176K). And, the most expensive cities in the UK are: London (£534K), Cambridge (£472K), Oxford (£452K), Bristol (£342K) and Bournemouth (£325K).
Prices by property type
House prices increased in the last year for detached (+5.4%), semi-detached (+4.6%), terraced (+3.6%) properties and for flats/ maisonettes (+1.5%).
| UK Region | Average price £ | Monthly change | Annual change |
|---|---|---|---|
| England | |||
| Nothern Ireland | |||
| Scotland | |||
| Wales | |||
| North West | |||
| Yorkshire and The Humber | |||
| North East | |||
| West Midlands | |||
| East Midlands | |||
| South West | |||
| East of England | |||
| South East | |||
| London |
| UK City | Average price | Annual change |
|---|---|---|
Market Monitor
2025 transactions have been pulled forward to avoid the rise in stamp duty in April 2025. Transactions in May were 81.5K, up 25% on April but still -12% below transactions at this time last year (92K).
However, there are early signs that buyer demand is finally starting to pick up with the level of new buyer enquiries in positive territory for the first time in 2025. New instructions to sell were largely stable but the number of homes for sale is reported to be up 11-14% on last year by Rightmove and Zoopla respectively.
The average time to secure a buyer is 59 days according to Rightmove, steady with May – faster than the 12 month average of 64.
How busy is the market?
- Not busy
- Normal
- Very busy
- Transactions are up on April’s 15 year low (after the rise in stamp duty in April)
- Total transactions in May 2025 81.5K
- +25% versus last month
- -12% from May last year, well below the long-run average
Homes for sale vs homebuyers
- Good availability of homes
- Normal
- Shortage of homes
- Buyer enquiries up for the first time in 2025(+3% RICS May data)
- Seller instructions up slightly (+3% RICS May data)
- Average stock per agent 63 in May; up from 60 last month (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- May figure: 59 days to find a buyer steady month on month; below 12 month average of 64 days (Rightmove)
What the experts say
Rightmove
“New seller asking prices fall by -0.3% this month. This is an unusual dip for June, as new sellers lower price expectations amid decade-high competition to secure buyers. Some segments of the market are performing more strongly than others with affordability and supply levels key. The higher-priced southern regions have seen larger price drops this month after higher stamp duty charges and seeing greater increases in homes for sale. Prices the more affordable North West, Wales and Yorkshire & Humber have risen quickest. Buyer activity continues to be resilient, 3% ahead of this time last year, while homes coming to market is 11% ahead. With buyer choice so high, the market is very price-sensitive.”
Nationwide
“UK house price growth slowed to 2.1% in June, from 3.5% in May. Prices declined by 0.8% month-on-month, after taking account of seasonal effects. The softening in price growth may reflect weaker demand following the increase in stamp duty at the start of April. Nevertheless, we still expect activity to pick up as the summer progresses, despite ongoing economic uncertainties in the global economy, since underlying conditions for potential homebuyers in the UK remain supportive.”
Zoopla (Hometrack)
“The number of housing sales is on the rise with home buyers return to the market after the end of stamp duty relief and the Easter holidays. There are 13% more homes for sale than a year ago. The average estate agent office has 35 unsold homes. Most of these home sellers are also buyers, which means plenty of interest for well-priced homes. It’s important that sellers are realistic with their expectations on price. Our data shows the average home sale is currently being agreed at 3% (or £16,000) below the average asking price, a level that has been stable over recent months. Strong competition in the mortgage market and less stringent affordability testing is set to support buyer demand and sales volumes over the second half of 2025.”
Halifax
“The UK housing market remained steady in June, with the average property price effectively unchanged over the month. The average house price is still around +2.5% higher than this time last year. The market’s resilience continues to stand out and, after a brief slowdown following the spring stamp duty changes, mortgage approvals and property transactions have both picked up, with more buyers returning to the market. That’s being helped by a few key factors: wages are still rising, which is easing some of the pressure on affordability, and interest rates have stabilised in recent months, giving people more confidence to plan ahead. Lenders have also responded to new regulatory guidance by taking a more flexible approach to affordability assessments. Over the last two months, we’ve helped an additional 3,000 buyers – including more than 1,000 first-time buyers – access a mortgage they wouldn’t have qualified for before.”
RICS
“The June 2025 RICS UK Residential Survey results point to a steadier picture for sales market activity, with measures of buyer demand moving out of negative territory for the first time in several months. Furthermore, sentiment regarding the near-term outlook for sales volumes has turned marginally positive, albeit momentum is still expected to remain quite subdued over the months ahead.”
