Overview

• The average UK house price rose 6.4% year-on-year in March to £271,000, driven by a rush to complete purchases before the stamp duty holiday ended in April.
• Regional disparities in growth were notable, with Northern Ireland seeing the highest increase at 9.5%, while London lagged with less than 1% growth.
• Consumer Prices Index (CPI) inflation reached 3.5% in April, the highest level since January 2024, contributing to economic pressures on households.
• Private rents increased by 7.4% year-on-year in April, with demand outstripping supply across the UK, particularly in the North East where rents rose by 9.4%.
• Market experts predict that house price growth may slow in the coming months due to rising mortgage costs and persistent affordability challenges.