The UK Housing Market

The UK housing market has seen quite a bit of fluctuation in recent years, influenced by various factors like interest rates, economic conditions, and government policies. As of late 2024 and into 2025, the housing market is still feeling the effects of rising interest rates, which were introduced by the Bank of England to curb inflation. These rate hikes make mortgages more expensive, which, in turn, has cooled down the market compared to the rapid price growth seen in earlier years.

House Prices

In some regions, house prices have seen a slight decline or have plateaued, but the extent varies by location. London and the South East, for instance, tend to be more resilient, while other areas like the North East may see more noticeable drops.

Government Schemes

The government has also been rolling out various schemes like the First Home Scheme and Help to Buy (though it has been phased out for new purchases) to assist first-time buyers, but the affordability gap is still significant for many.

If you need any help or advice, please get in touch with either myself or Russell.