April 2025 House Price Update: Growth Slows!

The latest data is in, and while UK house prices are still rising year-on-year, things cooled slightly in April. Let’s break down what happened, why it matters, and what might be next.

What’s the headline?

• Annual house price growth slowed to 3.4% in April (from 3.9% in March).

• Prices dropped 0.6% month-on-month, once seasonal effects are accounted for.

• The average UK house price now stands at £270,752 (down slightly from £271,316 in March).

What’s driving this?

This slowdown was expected. A key reason? Stamp duty changes at the start of April. Many buyers rushed to complete their purchases in March to avoid extra costs—pushing up activity last month, and leaving April looking quieter by comparison.

This is a pattern we’ve seen before after tax changes: a mini surge, then a short breather.

So, is the market slowing down for good?

Not necessarily.

While we might see a few softer months ahead, the foundations of the market remain strong:

• Unemployment is low

• Wages are growing in real terms

• Borrowing costs are manageable

• Household finances are generally in good shape

Add to that the possibility of interest rate cuts later this year—and we could see buyer confidence pick back up as we move into summer.

Final thoughts

This isn’t a crash—just a cooldown. The housing market is adjusting to recent policy changes, but the outlook for summer looks steady. If you’re thinking of moving, refinancing, or investing, this is a moment to stay informed and plan smart.

What about mortgage rates?

There’s good news here too.

Swap rates—which heavily influence fixed-rate mortgage pricing—have been easing in recent weeks. That means lenders might soon offer more competitive deals, especially if the Bank of England lowers rates, as many analysts expect.

As always, we are the experts here to help, so should you need any help or advice when it comes to the price of your home? We are a tried and tested safe pair of hands at the ready.