UK House Prices February 2025: Trends, Growth, and North West Market Insights

UK House Prices: Growth or Decline?

Over the past six months, UK house prices have been on an upward trend. However, February 2025 saw conflicting reports:

• Halifax: Reported a 0.1% decrease in average house prices, bringing the UK average to £298,602.
• Nationwide: Contradicted this by stating a 0.4% increase, with the average property price reaching £270,493.

These discrepancies arise due to different data collection methods, but they highlight the market's current uncertainty.

Factors Influencing UK House Prices

Several factors contributed to these mixed results:

1. Interest Rates and Mortgage Affordability

The Bank of England's recent rate decisions have influenced mortgage affordability, with many buyers still cautious despite improving borrowing conditions.

2. Supply and Demand Imbalance

While buyer demand remains high in some regions, a shortage of housing stock continues to support property values in certain areas.

3. Stamp Duty Changes in April 2025

Upcoming stamp duty adjustments could impact first-time buyers and those looking to move, influencing market trends in the coming months.

North West Property Market: Trends and Performance

The North West property market has remained resilient, experiencing steady price growth despite national uncertainty.

Key Trends in the North West

• Steady Growth: Cities like Manchester, Preston, and Liverpool continue to see demand for properties, particularly in suburban and commuter-friendly areas.
• Buy-to-Let Interest: Investors are still targeting the North West due to its strong rental yields and increasing student and professional tenant demand.
• Affordable Housing: Compared to the South East, the North West offers relatively affordable housing, making it attractive for first-time buyers.

What This Means for Buyers and Sellers

If you're considering buying or selling a property in the UK, now is a crucial time to understand market movements:

For Buyers:

• Mortgage rates may stabilise, making borrowing more manageable.
• Stamp duty changes in April could impact costs, so planning is crucial.
• North West properties continue to offer strong investment opportunities.

For Sellers:

• Demand remains strong in key areas, particularly for well-priced properties.
• Accurate pricing and expert marketing are essential in a competitive market.
• With potential market fluctuations, working with a trusted estate agent is key.

Farrell Heyworth: Your Trusted North West Estate Agent

At Farrell Heyworth, we understand the complexities of the property market and how national trends impact our local communities. Whether you're looking to buy, sell, or invest in the North West, our experienced team is here to provide expert guidance.

With a strong track record of helping homeowners navigate market changes, we offer:

• Local market expertise tailored to your area.
• Accurate property valuations based on the latest trends.
• Professional marketing to maximise exposure for your property.

Looking to make your next move? Get in touch with us today for expert advice and a free valuation.