Average UK house prices have remained above their pandemic peak levels, six years after the first Covid-19 lockdown, according to recent data analysis. Despite a period of cooling following the initial surge, prices have stabilised and, in many regions, returned to or exceeded previous highs.

House prices have surpassed pandemic peaks

Data from Yopa reveals that house prices rose by 26.5% during the pandemic, driven in part by the stamp duty holiday. After a subsequent cooling period, prices began to climb again in early 2025. The current average house price stands at £270,259, which is 1.7% higher than the previous peak of £265,727 recorded in September 2022.

Across the UK’s home nations, all have surpassed their pandemic benchmarks. England’s average price is 0.6% above its previous high, Wales is 3.5% higher, Scotland has increased by 5.0%, and Northern Ireland leads with a 17.8% rise above its former peak.

Market stabilisation after initial surge

Verona Frankish, Yopa’s chief executive, commented on the current market situation: “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.”

She added, “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.”

Frankish further noted that while market sentiment may not be as buoyant as during the pandemic, many homeowners continue to hold properties valued above the unprecedented surge experienced during Covid.

Regional variations in price performance

Within England, most regions have maintained house prices above their pandemic highs. The East Midlands, North East, North West, West Midlands, and Yorkshire and the Humber have all recorded increases beyond their previous peaks.

Conversely, four English regions remain below their pandemic levels. The East of England is down by 2%, London has fallen 4.8%, the South East is 3.3% lower, and the South West has dropped 4.2%.

At a more local level, analysis of 360 local authority areas shows that 233 (65%) are currently above their pandemic peak prices, indicating a broadly stable market with pockets of stronger performance.

What this means for landlords

The sustained house price levels above pandemic peaks offer reassurance to landlords regarding the value of their property portfolios. Stability in prices across much of the UK suggests a resilient market, despite recent concerns. However, regional disparities highlight the importance of local market knowledge when making investment decisions.

Landlords should remain mindful of areas where prices have softened, particularly in London and the South East, and consider how these trends may affect rental demand and capital growth prospects. Overall, the data underlines that many property owners continue to benefit from the value uplift seen during the pandemic period.

Source: Based on reporting from Property118

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