Housing prices in local authorities across London have seen a decline in January 2025, new data visualised by Polimapper shows. This comes amid news of a broader UK-wide slide in property values, following a rush to complete purchases ahead of recent stamp duty changes.
The Office for National Statistics has published a new update to its House Prices Index, revealing an increase in prices of over 14% in a number of local authorities and a decrease of over 5% in several others.
Nonetheless, on the whole, average UK house prices increased by 4.9% in the 12 months leading to January 2025. On a national level, the highest rate of house prices increase in Great Britain over the year was seen in Wales, at 6%. This was followed by England, at 4.8% and Scotland, 4.6%.
In January, an average price for a dwelling in England cost £291k. In Wales, this was £210k and in Scotland £187k.
Polimapper has visualised key data on house prices across the UK to highlight areas where value decreases due to stamp duty changes may have the most effect.
Kensington and Chelsea and Westminster reported the highest housing market values, at £1.12m and £900k per dwelling, respectively. Despite their premium price tags, both boroughs also experienced the steepest annual declines in values, with prices falling by -21.8% and -19% respectively.
Conversely, Inverclyde (£113k), West Dunbartonshire (£124k), and Burnley (£126k) registered the lowest average prices, although these increased by over 4% over the year. Check out statistics in your area below!
About this map
The map below shows average house prices by local authority in January 2025, alongside value changes over the year.
To view statistics in your area double click on the map or click here to launch the full page version!
Geodata digest
Reports of a house price decline have surfaced this week. This comes as house price increases have not accompanied inflation and recent stamp duty changes have added further strain to the market.
Amanda Bryden, head of mortgages at Halifax: “House prices rose in January as buyers rushed to beat the March stamp duty deadline. However, with those deals now completing, demand is returning to normal and new applications slowing. Our customers completed more house sales in March than in January and February combined, including the busiest single day on record. Following this burst of activity, house prices, which remain near record highs, unsurprisingly fell back last month.
Ashley Webb, UK economist at Capital Economics: “The fall in Halifax house prices in March provides further evidence that the boost from buyers rushing to complete home purchases before the rise in stamp duty on 1st April had already run its course and/or had been offset by the weak economy and the recent rises in mortgage rates.
Additional worries in the house market point to Donald Trump’s new tariffs.
Karen Noye, mortgage expert at Quilter: “The news of tariffs might start to spook would-be buyers as, once again, unpredictability seeps into the market.
“The enduring supply constraints continue to prop up prices, avoiding big drops, but the market’s trajectory will depend on how the UK economy is impacted by the new policies coming from the United States.”