The UK housing market posted a modest monthly rise in April, with average property prices increasing by 0.3% to £297,781, according to the latest Halifax House Price Index released today. This follows a slight dip of 0.5% in March, marking an impressively stable six-month period where average house prices have fallen by just £48—almost unheard of in post-pandemic Britain.
Halifax’s Head of Mortgages, Amanda Bryden, commented: “UK house prices rose by +0.3% in March, an increase of just under £900. The annual growth rate also ticked up to +3.2%, reaching its highest level so far this year. The typical UK property is now valued at £297,781.” While some media outlets lament sluggish growth, landlords may well see this as a blessing—a steady market offers predictability, a rare and welcome feature in today’s property landscape.
“The market continues to show resilience despite a subdued economic environment and risks from geopolitical developments,” Bryden added. “There is likely to be a bump-up in consumer price inflation… but with further base rate cuts also expected, we anticipate a similar trend of modest price growth this year.”
Regional rises offer landlords compelling returns outside London
Northern Ireland, Wales and Scotland once again led the charge on annual house price growth, with property values climbing 8.1%, 4.7% and 4.6% respectively. Landlords looking for yield and capital appreciation may do well to shift their attention north and west of the English border.
Northern Ireland, in particular, has become a beacon of growth, with the average home now costing £208,220—still comfortably below the UK average, despite strong appreciation. Wales also continues to deliver, with prices at £229,079, while Scotland’s average sits at £214,011.
Even in England, more affordable regions show signs of healthy momentum. The North West recorded a 4.1% annual rise to £240,975, making it one of the top English performers. By contrast, London posted a more modest 1.3% rise. Yet landlords with holdings in the capital can take comfort in the region’s consistent rental demand and the highest property values in the UK, now averaging £543,346.
Marc von Grundherr, Director of Benham and Reeves, observed: “The housing market continues to demonstrate its resilience… the annual rate of growth has also accelerated to its fastest pace seen so far this year. This has been driven by the return of the nation’s homebuyers who have grown in confidence as interest rates have reduced.”
Landlords benefit as market steadies and lending rates ease
While some analysts pointed to a drop in mortgage approvals in March (down 1.2% month-on-month), this was balanced by a healthy 4.5% year-on-year increase. Meanwhile, HMRC’s transaction data revealed a substantial 61.7% rise in seasonally adjusted home sales compared to February, signalling a market regaining its rhythm following the stamp duty rush.
For landlords, these data points spell opportunity. Greater transaction volumes often mean more tenants entering the market, and sub-4% mortgage deals are re-emerging. “With another base rate reduction expected later today,” said Jean Jameson, Chief Sales Officer at Foxtons, “the outlook for the year ahead is very positive. We’ve already seen many lenders reintroducing sub four percent mortgage products… house prices will climb further over the course of the year.”
Similarly upbeat was Verona Frankish, CEO of Yopa: “It’s clear that now this [stamp duty] deadline has passed, the market has immediately bounced back, as buyers and sellers push forward with their plans to move in 2025.”
Landlords may also find hope in comments from Propertymark CEO Nathan Emerson, who said: “This is a sign of sustained confidence in the UK’s housing market following a recent Stamp Duty surge in homebuying… Hopefully, the Bank of England can provide further clarity… and if the conditions are right to reduce interest rates, then this should make mortgages more affordable.”
Cautious optimism, but landlords hold the upper hand
While some in the media have sounded alarms over “fragile” mortgage confidence, most in the property sector are pointing to a different reality. Jonathan Hopper of Garrington Property Finders described April as “greater calm” after March’s stampede, noting that many agents are now seeing a rise in buyer enquiries as “prices have stabilised in many areas” and “homes are slowly becoming more affordable.”
This measured pace may not grab headlines, but it’s exactly what seasoned landlords often prefer. Stability allows for predictable rental income, careful acquisition planning, and long-term growth. As Daniel Austin of ASK Partners put it: “Investors and developers in the residential sector remain motivated by the supply-demand imbalance… If prices flatten and interest rates start to fall, we will see more first-time buyers able to step onto the property ladder.”
