In response to the ONS Private Rents and House Prices data published today which showed that UK house prices increased by 4.9% to £269,000, in the 12 months to January 2025, Nick Leeming, Chairman of Jackson-Stops, comments:

"The year started strong, driven by the looming Stamp Duty deadline and a post-Christmas reassessment of lifestyle priorities. This is reflected in our data, with 59% of branches reporting increased buyer interest in the past month.

“House prices are shaped by supply and demand. While Stamp Duty incentives are ending, the fundamental issue remains—a nationwide shortage of homes. Labour is committed to increasing supply, but until those homes materialise, price growth is likely to continue.

"Meanwhile, the maturing of 1.8 million fixed-rate mortgage deals in 2025 will prompt more households to reassess their options, further driving demand.

“As the Spring bounce approaches, we expect house prices to hold steady through the first half of the year.”