Your monthly UK housing market update. Covering sold prices, asking prices, surveyor sentiment and what could be next for the property market.
A brighter start to the year. As confidence returns, realism still matters.
HM Land Registry – Sold Prices
November brought a noticeable uptick in price growth, showing the market regaining momentum after a softer autumn.
Annual sold price inflation rose to 2.5% in the 12 months to November (up from 1.9%), and the average UK home now costs £271,000. Month on month, prices edged up too, with a 0.3% increase between October and November. A small but encouraging shift.
Regionally, the picture remains mixed. England rose to £293,000 (2.2%), Wales to £209,000 (0.7%) and Scotland to £193,000 (4.5%). Northern Ireland led the way with 7.1% annual growth. Within England, the North East once again saw the strongest rise at 6.8%, while London fell by 1.2%, reflecting ongoing affordability pressures.
Sales activity also picked up. 100,000 transactions were recorded in November, 7.7% higher than last year. Even so, mortgage approvals dipped slightly to 64,500, showing buyers remain active but selective.
Rightmove – Asking Prices
January delivered a headline-grabbing start to the year, with the largest January asking-price jump on record.
The average home coming to market rose by 2.8% (£9,893) to £368,031, marking the biggest monthly increase since 2015. Prices are now 0.5% higher than this time last year, signalling a clear rebound in sentiment after Budget uncertainty.
This surge reflects a powerful mix of the traditional Boxing Day bounce and returning confidence. In the two weeks after Christmas, buyer demand jumped 57%, while new listings surged 81%. Rightmove also recorded its busiest Boxing Day ever, as movers kicked off their 2026 searches.
That said, supply remains high. The number of homes for sale is at its highest January level since 2014, and around one in three listings has already seen a price reduction. Mortgage rates are helping, but Rightmove is clear: optimism needs to be balanced with realistic pricing.
RICS – Chartered Surveyor Sentiment
Surveyors report a more subdued picture, but confidence is noticeably stronger.
In December, new buyer enquiries improved to -24%, while agreed sales stood at -19%. The market remains in negative territory, but it’s no longer deteriorating at the pace seen earlier in the year.
The real shift is in expectations. For the first time in months, near-term sales expectations turned positive, with a net balance of +22%. Looking ahead, optimism strengthens again: +34% of surveyors now expect sales to rise over the next year, up sharply from +15% previously.
Supply is also stabilising. New instructions returned to a neutral balance of 0%, ending a run of declines. That said, market appraisals remain weaker at -30%, making a surge in listings unlikely.
Prices continued gently edging down (-14%), but the trend is flattening. Scotland and Northern Ireland continue to outperform, while London and the South East remain under pressure.
Zoopla – Housing Market Outlook
Zoopla reports a strong seasonal rebound in demand. Many buyers delayed decisions through Budget uncertainty, but confidence is now returning — and more buyers are being met by more sellers.
In fact, the total number of homes for sale is 6% higher than last year, with the average agent now marketing 34 properties (the highest level in eight years).
That extra choice is keeping price growth in check nationally, but local markets tell different stories. Some of 2025’s strongest gains were seen in more affordable towns such as Burnley, Rochdale, Blackburn, Liverpool and Wigan, all benefiting from improved affordability and tighter local supply.
Mortgage conditions are also more favourable. Average rates fell to around 4% in December, and many households can borrow up to 20% more than a year ago. As a result, Zoopla expects healthy demand to continue into 2026, particularly for homes priced for their local market.
Express Index
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