House Price Index July 2025
Property transactions continue to pickup and sales market activity is seasonally strong with buyer demand reported to be 11% higher than a year ago with 8% more agreed sales. While levels of market activity are higher, this is not translating into faster house price growth. With homes for sale reported to be up 12% on a year ago with even higher levels in London and the South East/ West, buyers have lots of homes to choose from and this is limiting house price inflation. There are also reports that higher stamp duty costs in England and NI are impacting what buyers are bidding on homes, lowering agreed house prices.
What’s happening nationally
House prices are up on average +0.3% over the past month while the rate of annual house price growth has held steady at 2.8%.
Most of the indices report a rise in house price growth over the past month: Land Registry (+1.4%), Nationwide (+0.6%) and Halifax (+0.4%). However, Rightmove reporting asking prices noted a fall in house prices this month (-1.2%). All of the indices report positive annual house price growth: Land Registry (+3.7%), Nationwide and Halifax (+2.4%) and Rightmove (+0.1%).
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 June.
Nationwide & Halifax – mortgage valuations in July.
Rightmove – asking prices posted on Rightmove in July.
*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 | +1.4% | +3.7% |
| Nationwide | +0.6% | +2.4% |
| Halifax | +0.4% | +2.4% |
| Rightmove | -1.2% | +0.1% |
| Average change | +0.8% | +2.8% |
House prices in your area
Regional house prices
House prices have increased over the past month in all regions of the UK. Over the last year, house prices have increased in all areas with the biggest rises in: The North East of England (+7.8%), Scotland (+5.9%), Northern Ireland (5.5%) and the North West (5.0%).
Annual house price growth tends to be slowest in London (+0.8%) and the South West (+1.5%).
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK are London (£561K), the South East (£384K), the East of England (£338K) and the South West (£302K). The cheapest regions are the North East of England (£164K), Northern Ireland (£185K), Scotland (£192K) and Yorkshire & Humber (£204K).
In terms of cities, the most affordable are: Aberdeen (£132K), Glasgow (£157K), Newcastle (£159K) and Sheffield (£176K). And, the most expensive cities in the UK are: London (£534K), Cambridge (£473K), Oxford (£453K), Bristol (£343K) and Bournemouth (£324K).
Prices by property type
House prices increased in the last year for detached (+4.4%), semi-detached (+5.0%), terraced (+4.1%) properties and for flats/ maisonettes (+0.3%).
| 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
June transactions of 93.5K were up 13% on May (82.5K) similar to transaction levels last June (92K).
And, both Rightmove and Zoopla report seasonally strong activity in July. Zoopla says buyer demand is 11% higher than a year ago with 8% more sales agreed. Note that RICS report is more negative, showing a downturn in demand.
Rightmove and Zoopla report a healthy stock of homes for sale. Zoopla figures indicate the supply of homes is up 12% nationally year on year with higher supply in London (+19%) and the South East/ West (+16%). This healthy supply of homes it making it a buyer’s market with plenty of choice and price sensitivity.
The average time to secure a buyer in July is 62 days according to Rightmove, slower than June but still faster than the 12 month average of 64.
How busy is the market?
- Not busy
- Normal
- Very busy
- Transactions in June are up
- Total transactions in June 2025 93.5K
- +13% versus last month
- +1% higher than last year
Homes for sale vs homebuyers
- Good availability of homes
- Normal
- Shortage of homes
- Buyer enquiries slip back(-6% RICS July data)
- Seller instructions up slightly (+9% RICS July data)
- Average stock per agent 65 in July; steady with June/ up from 63 in May (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- July figure: 62 days to find a buyer, up month on month; but faster than the 12 month average of 64 days (Rightmove)
What the experts say
Rightmove
“We’re seeing an interesting dynamic between pricing and activity levels. The healthy and improving level of property sales being agreed shows there are motivated buyers willing to finalise a deal for the right property. What’s most important to remember in this market is that the price is key to selling. The number of sales being agreed is 5% higher than this time last year, the number of future buyers contacting agents is 6% higher than last year and average new seller asking prices are now just 0.1% higher than they were a year ago. At the half way point of the year, Rightmove is reducing its price forecast for 2025 from +4% to 2% as the high level of seller competition is limiting price growth and retaining its prediction of 1.15 million transactions this year.”
Nationwide
“July saw a modest pick-up in the rate of annual house price growth to 2.4%, from 2.1% in June. Prices increased by 0.6% month on month, after taking account of seasonal effects. Looking through the volatility generated by the end of the stamp duty holiday, activity appears to be holding up well. Indeed, 64,200 mortgages for house purchase were approved in June – in line with the pre-pandemic average (despite the changed interest rate environment). Housing affordability has been steadily improving, thanks to a period of strong income growth alongside more subdued house price growth and a modest fallback in mortgage rates.”
Zoopla (Hometrack)
“Sales market activity is seasonally strong for July with buyer demand 11% higher than a year ago and 8% more sales agreed. While levels of market activity are higher, this is not translating into faster house price growth. House price inflation is being impacted by a greater supply of homes for sale. There are 12% more homes for sale nationally, 19% more in London and 16% more in the South East and West than a year ago, which boosts choice and supports a buyers’ market where bids can be kept competitive, keeping price inflation in check. While more homes for sale is one factor behind slower price inflation, the other big change has been higher stamp duty costs in England and Northern Ireland – buyers will seek to reflect higher buying costs in what they bid for which impacts agreed house prices.”
Halifax
“UK house prices rose in July, +0.4% (£1,080 in cash terms), the biggest monthly increase since the start of this year. The average house price is now £298,237, +2.4% higher than a year ago. Challenges remain for those looking to move up or onto the property ladder. But with mortgage rates continuing to ease and wages still rising, the picture on affordability is gradually improving. Combined with more flexible affordability assessments, the result is a housing market that continues to show resilience, with activity levels holding up well. We expect house prices to follow a steady path of modest gains through the rest of the year.”
RICS
“The July 2025 RICS Residential Market Survey results convey a relatively weak backdrop at present. Indeed, some of the tentative signs of recovery that appeared to be emerging in the previous monthly feedback were partially reversed, with measures of demand and agreed sales slipping back into slightly negative territory. Meanwhile, forward-looking sentiment now points to a largely flat picture for activity in the near-term.”
