Latest UK House Price Data Shows Fastest Growth in Two Years For the North West
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New ONS Property Price Data Shows Strong Growth for the North West
While recent property market news for the UK has focused on a monthly drop in average house prices and concern over the health of the market in 2025, the latest data from the Office for National Statistics shines a positive light on the topic.
January 2025 statistics from the UK House Price Index have revealed a significant surge in property values, particularly in the North West region. Let’s take a look at what the latest figures show and the possible reasons behind this growth.
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How Much Did Average Property Prices Rise?
Looking at ONS data on all property types, the North West saw an annual rise of 6.8% in the 12 months to January 2025, up from a 0.3% decrease in the previous 12 months and a 5.7% increase in the 12 months prior. The current average property price for the North West stands at £210,259, up from £196,802 in January 2024.
For the UK as a whole, an average annual growth of 4.9% was recorded throughout the past year. Again, compared to the 12 months prior, this was a sharp rise following the 1.9% decrease seen between January 2023 and January 2024.
This is a welcome update for anyone concerned by February’s news of a 0.1% recorded monthly drop in house prices, with news of positive growth restoring some faith in the state of the property market in 2025.
The Office for National Statistics isn’t the only data source that has revealed recent positive growth for the UK market, with data from home.co.uk showing that property prices have increased by 15% since March 2020.
Within this data, it’s revealed that the North West, again, shows positive growth with the highest five-year increase of any UK region at a rate of 29%.
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What Could Have Caused This Growth?
While we don’t know for certain what could have caused such a spike in annual property price growth, there are a number of possible reasons that could have contributed.
The upcoming stamp duty changes set to take effect in April may have caused many buyers to rush into the market to avoid higher costs, resulting in a surge in demand and subsequent higher property prices.
Increased property market activity was also recorded during the beginning of 2025, with an 11% annual surge in sellers entering the market.
In the North West specifically, buyers have been recognising the appeal of the region for a number of years thanks to better affordability, high demand, and promising long-term capital growth due to ongoing regeneration.
More people are viewing areas in the North West as ideal places to live, particularly Liverpool and Manchester. Woolton, a popular Liverpool suburb, made headlines this month by being ranked the best place to live in the North West by the Sunday Times.
Savills property price predictions within their Residential Market Forecast suggest the North West is going to continue leading the way for UK housing market growth, with the highest five-year growth predictions of 29.4% by 2029.
If you’re considering getting started with UK property investment and interested in buy to let in North West areas, now could be a great time to invest. With evidence that the market in the North West is performing well and predictions for even higher future growth, savvy buyers could secure the best deals right now and benefit from enhanced capital growth returns.
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