In response to the ONS Private Rents and House Prices data published today which showed that UK house prices increased by 6.4% to £271,000, in the 12 months to March 2025, Nick Leeming, Chairman of Jackson-Stops, comments:

“The early months of 2025 have laid a strong foundation for the housing market, driven by rising demand and steady price growth. In March, buyers moved swiftly ahead of the impending Stamp Duty changes, fuelling a notable price uptick at the same time.

“Looking ahead, price growth is likely to be moderate, with regional variations continuing to shape local market dynamics. The true test for this year will be activity levels post-Stamp duty changes; sustained momentum could drive a buoyant summer, but without the same time pressure, price growth may soften.

“Encouragingly, across the Jackson-Stops network we are seeing robust activity levels, with demand outpacing supply in popular markets. In April alone, an average of five potential buyers were competing for every new listing, underscoring borrower’s continued commitment despite an everchanging economic situation.

“Now, the Government must reaffirm its pledge to deliver 1.5 million homes during this Parliament. Until this happens, the market cannot fully realign to meet the needs of both current and future buyers.”