House prices remain above pandemic peak levels

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House prices remain above pandemic peak levels

Average house prices remain above their pandemic peak six years on from the first Covid lockdown, an analysis of national and regional data reveals.

Figures from Yopa show values rose by 26.5% during the pandemic followed by a period of cooling before prices moved back towards previous highs in early 2025.

The average house price now sits at £270,259, which is 1.7% higher than the earlier peak of £265,727 recorded in September 2022.

Across the home nations, each is currently above its pandemic benchmark with England 0.6% higher and Wales stands 3.5% above.

Scotland is 5.0% higher, while Northern Ireland is 17.8% above its previous peak.

House prices have stabilised

Yopa’s chief executive, Verona Frankish, said: “There’s been a lot of doom and gloom surrounding the property market of late, however, it wasn’t that long ago that the headlines were focused on the pandemic property market boom and just how quickly house prices were climbing, fuelled by the stamp duty holiday.

“We did see house prices cool as this stamp duty incentive was gradually phased out, but what’s notable is that prices across the majority of the UK have since stabilised and, in many cases, crept back above the levels seen at the height of the boom.”

She added: “That really puts the current market into perspective as, whilst market sentiment may not be as buoyant as it was during the pandemic, many homeowners are still sitting on values that exceed even the unprecedented surge seen during Covid.”

Regional prices up

Within England, most regions also remain above the levels reached during the pandemic boom.

The East Midlands, North East, North West, West Midlands, and Yorkshire and the Humber have all recorded higher prices.

Elsewhere, four regions continue to sit below their previous highs including the East of England which is down 2% and London is down 4.8%.

The South East is down 3.3%, and the South West has dropped 4.2%.

At local authority level, 233 (65%) of the 360 areas analysed are above their pandemic peak.

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