UK House Price Index summary: January 2025
Published 26 March 2025
© Crown copyright 2025
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-for-january-2025/uk-house-price-index-summary-january-2025
1. Headline statistics for January 2025
The average price of a property in the UK was £269,000
The annual price change for a property in the UK was 4.9%
The monthly price change for a property in the UK was 0.2%
The monthly index figure (January 2023 = 100) for the UK was 102.9
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read Revisions to the UK HPI data.
Next publication of UK HPI
The February 2025 UK HPI will be published at 9.30am on Wednesday 16 April 2025. See the calendar of release dates for more information.
In September 2024’s release, UK House Price Index (UK HPI) estimates were revised from January 2022 onwards by making use of price data processed outside the UK HPI’s normal 12-month revision period. In October 2024’s release, UK HPI returned to the usual 12-month revision period. Users should be aware that revisions may be larger than usual and should note the significantly greater uncertainty around new build prices.
Before the 19 February 2025 release, UK HPI had a reference period of January 2015. UK HPI price levels were derived by taking the January 2015 average price of a reference set of properties and applying individual period inflation rates to produce the full-time series. In February 2025’s release, January 2023 became the new reference period, to which individual period inflation rates were to produce the full-time series. From 19 February 2025’s release, the UK HPI indices report January 2023 = 100. Re-referencing shifts the price level series for each geography and breakdown by a constant percentage shift, but inflation rates are unaffected by re-referencing, as explained in Section 3: Methods used to produce the UK HPI in HM Land Registry’s Quality and methodology.
The UK HPI has been re-referenced because the types of property being sold can change over time. For example, between 2015 and 2023 the proportion of property transactions relating to sales of smaller properties increased (for example, there were proportionately more sales of flats than detached properties) and sales in more expensive parts of the UK proportionately decreased (for example, there were proportionately more sales in Scotland than in London). Updating the UK HPI reference period from January 2015 to January 2023 allows the UK HPI to better reflect the observed change in the type of properties currently being sold. This has led to a 7.9% downwards shift for the entire average UK price level series. The inflation rates for the UK series were unaffected by re-referencing.
2. Economic statement
Average UK house price annual inflation was 4.9% (provisional estimate) in the 12 months to January 2025, up from the revised estimate of 4.6% in the 12 months to December 2024.
The average UK house price was £269,000 in January 2025 (provisional estimate), which is £13,000 higher than 12 months ago. Average house prices in the 12 months to January 2025 increased in England to £291,000 (4.8%), increased in Wales to £210,000 (6.0%) and increased in Scotland to £187,000 (4.6%). The average house price increased in the year to Q4 (Oct to Dec) 2024 to £183,000 in Northern Ireland (9.0%).
On a non-seasonally adjusted basis, average UK house prices increased by 0.2% between December 2024 and January 2025 compared with a decrease of 0.1% in the same period 12 months ago. On a seasonally adjusted basis, average house prices in the UK increased by 0.7% between December 2024 and January 2025.
Of English regions, annual house price inflation was highest in the North East, where prices increased by 9.1% in the 12 months to January 2025. London was the English region with the lowest annual inflation, where prices increased by 2.3% in the 12 months to January 2025.
The Royal Institution of Chartered Surveyors’ (RICS’) January 2025 UK Residential Market Survey reported a broadly flat picture this month with measures of demand and sales both easing slightly to now sit in neutral territory. RICS also reported that house prices continue to rise steadily at the national level and that sales volumes are expected to rise gently over the months ahead.
The Bank of England’s Agents’ summary of business conditions - 2024 Q4 reported that the supply of properties for sale continues to improve, but purchasers do not, generally, see this as a good time to buy.
HM Revenue & Customs’ (HMRC’s) UK Property Transactions Statistics showed that in January 2025, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 95,000. This is 14.4% higher than 12 months ago (January 2024). Between December 2024 and January 2025, UK transactions decreased by 1.0% on a seasonally adjusted basis.
The Bank of England’s Money and Credit January 2025 release reported that mortgage approvals for house purchases, an indicator of future borrowing, decreased by 300 to 66,200 in January 2025, following an increase of 400 in December 2024.
3. Price changes
3.1 Annual price change
Annual price change for UK by country over the past 5 years
Download this chart’s data (CSV, 1KB)
Average UK house price annual inflation was 4.9% (provisional estimate) in the 12 months to January 2025, up from the revised estimate of 4.6% in the 12 months to December 2024.
The average UK house price was £269,000 in January 2025 (provisional estimate), which is £13,000 higher than 12 months ago. Average house prices in the 12 months to January 2025 increased in England to £291,000 (4.8%), increased in Wales to £210,000 (6.0%) and increased in Scotland to £187,000 (4.6%). The average house price increased in the year to Q4 (Oct to Dec) 2024 to £183,000 in Northern Ireland (9.0%).
3.2 Average price by country and government office region
Price, monthly change and annual change by country and government office region
| Country and government office region | Price | Monthly change | Annual change |
|---|---|---|---|
| England | £291,397 | 0.2% | 4.8% |
| Northern Ireland (Quarter 4 - 2024) | £183,259 | 1.5% | 9.0% |
| Scotland | £187,434 | 0.2% | 4.6% |
| Wales | £209,579 | 0.9% | 6.0% |
| East Midlands | £241,159 | -0.4% | 6.2% |
| East of England | £338,657 | -0.2% | 3.0% |
| London | £563,899 | 2.3% | 2.3% |
| North East | £161,373 | -0.1% | 9.1% |
| North West | £210,259 | -0.1% | 6.8% |
| South East | £386,103 | 0.5% | 4.5% |
| South West | £307,233 | 0.1% | 2.7% |
| West Midlands Region | £244,589 | 0.0% | 5.3% |
| Yorkshire and The Humber | £202,930 | -0.6% | 5.9% |
Download this table’s data (CSV, 1KB)
Price changes by country and government office region
On a non-seasonally adjusted basis, average UK house prices increased by 0.2% between December 2024 and January 2025 compared with a decrease of 0.1% in the same period 12 months ago. On a seasonally adjusted basis, average house prices in the UK increased by 0.7% between December 2024 and January 2025.
Note: The Northern Ireland figure represents a 3-month change and is not comparable with the other regions and countries.
3.3 Average price by property type
Average monthly price by property type
| Property type | January 2025 | January 2024 | Difference |
|---|---|---|---|
| Detached | £440,067 | £420,315 | 4.7% |
| Semi-detached | £271,027 | £255,737 | 6.0% |
| Terraced | £225,308 | £212,711 | 5.9% |
| Flat or maisonette | £196,069 | £191,646 | 2.3% |
| All | £268,548 | £255,972 | 4.9% |
Download this table’s data (CSV, 1KB)
4. Sales volumes
Total transaction volumes and new build volumes available to calculate UK HPI estimates have increased recently. HM Land Registry has processed over 40% of HMRC’s provisional sales estimate for UK HPI’s first estimate in recent months, though transaction volumes for older periods and new build volumes remain lower than historical averages. Users should be aware that revisions may be larger than historically and should note the greater uncertainty around new build prices. Further information is available in HM Land Registry’s UK House Price Index summary.
Potential methodology improvements are being investigated, aimed at reducing revisions in UK HPI estimates. Read more in ONS’ UK HPI monthly imputation methods paper.
4.1 Sales volumes
Number of sales volumes by country
Provisional UK HPI estimates for January 2025 are based on approximately 32,400 records for England, 4,400 for Scotland, and 1,600 for Wales. This represents 48% of HMRC’s provisional sales estimate for January 2025, as detailed in their Monthly property transactions completed in the UK with value of £40,000 or above estimates. Over time, more records will become available for recent periods, which will be used to revise UK HPI estimates and sales volumes, in line with the revision policy published by the ONS and HMLR.
Sales estimates from UK HPI differ from estimates from HMRC because of different data sources, revision period size and coverage. HMRC’s Quality report states there are likely to be inaccuracies in their data because of reporting or keying errors, such as misclassification between residential and non-residential transactions. However, HMRC take steps to reduce this measurement error. Another reason for differences could be that residential property transactions, where the buyer or seller is a corporate body, company or business, are excluded from UK HPI data, but included in HMRC data.
Further information on data sources, revision policy, methods and quality is available in HMLR’s UK HPI guidance.
Comparing the provisional volume estimate for the current month with the revised volume estimate for the corresponding month in the previous year
| Country | November 2024 | November 2023 |
|---|---|---|
| England | 42,289 | 54,315 |
| Northern Ireland | 2,116 | 1,914 |
| Scotland | 9,404 | 7,999 |
| Wales | 2,368 | 2,945 |
Note: Comparing the provisional volume estimate for the current month with the revised 12-month volume estimate.
Download this table’s data (CSV, 1KB)
Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.
Note: The number of property transactions for November 2024 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.
Comparing the provisional UK HPI volume estimate for November 2023 with the provisional UK HPI volume estimate for November 2024, volume transactions increased by 35.3% in England, 19.2% in Scotland and 35.4% in Wales. Northern Ireland’s UK HPI volume transactions increased by 19.3% in the year to Quarter 4 2024.
UK Property Transaction Statistics published by HMRC (which differ in coverage but are more complete for this period) report that in the 12 months to November 2024, on a non-seasonally adjusted basis, HMRC volume transactions increased by 20.4% in England, 19.9% in Scotland, 23.0% in Wales and 17.4% in Northern Ireland.
4.2 Sales volumes for the UK over the past 5 years
Sales volumes for 2020 to 2024 by country: November
Download this table’s data (CSV, 1KB)
Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.
Note: The number of property transactions for November 2024 will increase as more transactions are incorporated into the UK HPI index. See our Revisions Policy for more information.
Comparing the provisional UK HPI volume estimate for November 2023 with the provisional UK HPI volume estimate for November 2024, UK volume transactions increased by 31.7%.
UK Property Transaction Statistics published by HMRC (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, HMRC volume transactions for the UK increased by 20.4% in the 12 months to November 2024.
New build and existing resold property
| Property status | Average price November 2024 | Monthly change | Annual change |
|---|---|---|---|
| New build | £399,858 | 9.0% | 22.1% |
| Existing resold property | £261,645 | -0.6% | 2.6% |
Download this table’s data (CSV, 1KB)
Note: Since the October 2017 release, amendments have been made to our estimation model when calculating our provisional estimate. Find out further information and the impact of this change in the methods used to produce the UK HPI.
5. Buyer status for Great Britain
First time buyer and former owner occupier
For Great Britain only, Northern Ireland data is not available for buyer status.
| Type of buyer | Average price January 2025 | Monthly change | Annual change |
|---|---|---|---|
| First time buyer | £227,026 | 0.1% | 5.3% |
| Former owner occupier | £330,717 | 0.4% | 4.4% |
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6. Funding status for Great Britain
Cash and mortgage
For Great Britain only, Northern Ireland data is not available for funding status.
| Funding status | Average price January 2025 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £255,804 | 0.3% | 4.1% |
| Mortgage | £278,036 | 0.2% | 5.2% |
Download this table’s data (CSV, 1KB)
7. Access the data
Download the data as CSV files or access it with our UK HPI tool.
Data revisions
View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.
8. About the UK House Price Index
The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.
Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.
Find out more about the UK House Price Index.
A key determinant of house prices is the demographic characteristics of the area in which the property is located. The UK HPI uses the socio-demographic classification, known as Acorn, in the hedonic regression model to measure the affluence of the area.
Prior to 20 December 2023’s publication, property transactions in Great Britain were excluded from the regression model if their Acorn classification was missing. From 20 December 2023’s publication, these properties are included in the regression model from January 2023’s data onwards, but are given less weight in the calculations, as described above. This methodology improvement aligns how transactions with missing Acorn classification are used in the Great Britain model and Northern Ireland model, increasing coherence across the UK and improving the quality of UK HPI statistics.
10. Contact
Eileen Morrison, Data Services Team Leader, HM Land Registry
Email eileen.morrison@landregistry.gov.uk
Telephone 0300 006 5288
Aimee North, Head of Housing Market Indices, Office for National Statistics
Email aimee.north@ons.gov.uk
Telephone 01633 456400
Ciara Cunningham, Statistician for the Northern Ireland HPI
Email ciara.cunningham@finance-ni.gov.uk
Telephone 028 90 336035
Anne MacDonald, Land & Property Data Team, Registers of Scotland
Email Anne.MacDonald@ros.gov.uk
Telephone 0131 378 4991