Average UK house prices increased by 3.8%, to £270,000, in the 12 months to April, up from 0.0% in the year to March and the highest annual inflation rate since March 2025, the latest UK House Price Index from the Land Registry shows.
The annual rate increased because average UK house prices experienced a monthly rise (0.7%) between March and April 2026, while there was a large monthly fall (-2.9%) in the same period a year ago due to changes in stamp duty which came into effect from 1st April.
Average house prices increased to £291,000 (3.9%) in England, £212,000 (3.5%) in Wales, and £192,000 (2.8%) in Scotland over the year.
The North East was the English region with the highest house price inflation, at 9.9%, in the 12 months to April. This was up from a fall of 0.9% in the 12 months to March and caused by a base effect from large monthly price falls a year ago, coinciding with SDLT changes in England in April 2025.
Annual house price inflation was lowest in London. The stamp duty changes had minimal impact on areas such as London where average prices are higher. Prices fell by 2.1% in the 12 months to April, unchanged from the 12 months to March. This is the ninth consecutive month in which London has seen an annual fall in house prices.
Richard Harrison, head of mortgages at Atom Bank, commented: “The headline rate of house price inflation is more a reflection of the impact of the end of the stamp duty holiday a year ago, than what’s actually happening at the moment. On the ground, the housing market is feeling the domino effect of foreign policy decisions made in the White House, with the situation in Iran cooling confidence among buyers. The conflict has fed into higher costs and higher interest rates for potential purchasers, with some opting to put their plans on hold.
“That could be good news for those brave enough to take the plunge though, with Moneyfacts data suggesting average rates are now falling, and product numbers have pushed above 7,000 for the first time since March. Savvy negotiators may be able to take advantage of a slower market.
“With a peace deal apparently agreed, we may now start to see the effects of this turbulence filter out. However, it’s been yet another reminder of how global events can have a material impact on the housebuying abilities of regular people across the UK.”
Lee Williams, national sales manager at Saffron for Intermediaries, said: “As geopolitical tensions and a shifting policy landscape continue to test the market, today's data points to a quiet resilience. With housing supply continuing to fall short of where it needs to be and with demand not wavering that imbalance is helping house prices increase. The picture does vary from region to region but the underlying story is one of a market that is holding up well.
“Just last week the FCA proposed changes that could make it significantly easier for more people to access mortgages, giving lenders greater flexibility to look at individual circumstances rather than apply blanket restrictions."
Verona Frankish, CEO of Yopa, added: "While house price growth remains relatively modest, the fact that values continue to rise is a positive sign for the wider market.
"The adjustment to higher mortgage rates has largely taken place and we're now seeing a more balanced market emerge, where buyers and sellers are approaching transactions with realistic expectations.
"It's unlikely we'll see significant house price inflation in the near term, but a stable market is ultimately a healthier one, particularly after the volatility of recent years."
