House prices still increasing

ONS has reported on its latest House Price Index, showing average UK house prices increasing by 5.4% to £268,000 in the 12 months to February 2025. This annual growth rate is up from 4.8% in the 12 months to January 2025.

Annual inflation has been generally increasing since its recent low point of negative 2.7% in the 12 months to December 2023. The stats also show that the average house price for England was £292,000 in February 2025, up 5.3% (£15,000) from a year earlier. This annual rise was higher than in the 12 months to January 2025 (4.5%).

Annual house price inflation was lowest in London, at 1.7% in the 12 months to February 2025, down from 2.0% in the 12 months to January 2025.