How a lot the common UK home worth elevated by in April

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Your assist makes all of the distinction. Learn extra UK home costs noticed a modest rise in April, rising by almost £900 regardless of the looming finish of the stamp responsibility vacation, in keeping with the Halifax Home Value Index.

This 0.3 per cent per cent month-on-month improve follows a 0.5 per cent dip in March, bringing the common property worth to £297,781, up from £296,899 the earlier month.

The annual progress fee additionally ticked upwards, reaching 3.2 per cent in April, in comparison with 2.9 per cent in March.

Amanda Bryden, head of mortgages at Halifax, acknowledged the stamp responsibility vacation's affect available on the market.

"We all know the stamp responsibility modifications prompted a surge in transactions within the early a part of this yr, as consumers rushed to beat the tax-rise deadline," she acknowledged.

"Nonetheless, this didn’t result in a major improve in property costs, with the final six months characterised by a stability in costs hardly ever seen because the pandemic.”

<img src="https://static.independent.co.uk/2025/05/08/09/fb2370c55e061ec8c6d12996be3990d8Y29udGVudHNlYXJjaGFwaSwxNzQ2Nzc3Njg4-2.80028186.jpg" srcset="https://static.independent.co.uk/2025/05/08/09/fb2370c55e061ec8c6d12996be3990d8Y29udGVudHNlYXJjaGFwaSwxNzQ2Nzc3Njg4-2.80028186.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/05/08/09/fb2370c55e061ec8c6d12996be3990d8Y29udGVudHNlYXJjaGFwaSwxNzQ2Nzc3Njg4-2.80028186.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="(PA Graphics)" class="sc-1mc30lb-0 QHifS inline-gallery-btn"/> open picture in gallery

(PA Graphics) This relative stability means that whereas the stamp responsibility vacation might have spurred exercise, different market forces are contributing to the general worth traits.

Halifax’s figures are in distinction to Nationwide Constructing Society’s newest home worth index, launched final week.

Nationwide reported that home worth progress had softened, with costs dipping by 0.6 per cent month on month in April and worth progress additionally slowing on an annual foundation, at 3.4 per cent in April, down from 3.9 per cent in March.

Stamp responsibility “nil fee” bands have turn into much less beneficiant from April, with some consumers dealing with larger prices for transferring dwelling. Stamp responsibility applies in England and Northern Eire.

Ms Bryden mentioned “modest worth progress” is anticipated this yr, including: “Total, the market continues to point out resilience, regardless of a subdued financial atmosphere and dangers from geopolitical developments.”

Wanting throughout the UK, Halifax recorded robust home worth progress in Northern Eire, Wales and Scotland, with a extra subdued image in south-west England and London.

Nathan Emerson, chief govt of property professionals’ physique Propertymark, mentioned of the Halifax figures: “This can be a signal of sustained confidence within the UK’s housing market following a latest stamp responsibility surge in dwelling shopping for, and it ought to give these sellers hoping to make the most of the historically busier spring and summer time months motivation to maneuver up the housing ladder.”

Iain McKenzie, chief govt of the Guild of Property Professionals, mentioned: “We’re seeing mortgage charges proceed their welcome descent, with sub-4 per cent offers now reappearing, which is a transparent increase for purchaser affordability and confidence.”

<img src="https://static.independent.co.uk/2025/05/07/8/32/housing-new-build-development-stock-uk.jpeg" srcset="https://static.independent.co.uk/2025/05/07/8/32/housing-new-build-development-stock-uk.jpeg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/05/07/8/32/housing-new-build-development-stock-uk.jpeg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Stamp duty “nil rate” bands have become less generous from April, with some buyers facing higher costs for moving home" class="sc-1mc30lb-0 QHifS inline-gallery-btn"/> open picture in gallery

Stamp responsibility “nil fee” bands have turn into much less beneficiant from April, with some consumers dealing with larger prices for transferring dwelling (Getty/iStock) Jonathan Handford, managing director at property agent group Advantageous & Nation, mentioned: “The rebound in costs suggests the market could also be discovering its footing after a turbulent few months.”

Matt Thompson, head of gross sales at London-based property agent Chestertons, mentioned: “In April, some home hunters paused their search amid the Easter holidays, however sellers remained motivated which resulted in an uplift within the variety of properties put up on the market.”

Tom Invoice, head of UK residential analysis at Knight Frank, mentioned: “Demand has elevated as extra mortgage charges drop beneath 4 per cent, which can underpin costs whereas the momentum is maintained.

“Tariff turbulence has helped push rate of interest expectations decrease however consumers may very well be delay if it will get too bumpy.”

Jason Tebb, president of OnTheMarket, mentioned: “With property costs remaining comparatively regular, this implies that affordability is having an impression on the quantity consumers are prepared and/or in a position to pay.”

Babek Ismayil, founder and chief govt at homebuying platform OneDome, mentioned: “This improve masks ongoing affordability pressures and the longer-term hangover from the stamp responsibility modifications in April.”

Tomer Aboody, director of specialist lender MT Finance, mentioned: “The top of the stamp responsibility vacation in March noticed an enormous push in transactions finishing by the top of the month in order that consumers might keep away from the tax improve.

“We at the moment are seeing the fallout, with transactions and mortgage approvals falling, though costs are holding regular.”

Common home costs throughout the UK

Listed below are common home costs and the annual improve, in keeping with Halifax. The regional annual change figures are based mostly on the latest three months of permitted mortgage transaction knowledge:

East Midlands, £245,884, 3.0 per centEastern England, £335,619, 2.0 per centLondon, £543,346, 1.3 per centNorth East, £175,207, 2.1 per centNorth West, £240,975, 4.1 per centNorthern Eire, £208,220, 8.1 per centScotland, £214,011, 4.6 per centSouth East, £391,830, 2.0 per centSouth West, £304,451, 0.9 per centWales, £229,079, 4.7 per centWest Midlands, £261,098, 3.3 per centYorkshire and the Humber, £214,844, 3.8 per cent [ad_2] Source link