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Annual rate of house price growth remained stable in March at 3.9%

ended 01. April 2025

The annual rate of house price growth remained stable in March at 3.9%, unchanged from February, according to the Nationwide. Northern Ireland remained the top performing area, with annual price growth accelerating to 13.5%, while London was the weakest performing region, delivering a 1.9% year-on-year rise. House price growth steady across most regions in first quarter of 2025, the lender added. Newspage asked property experts for their views, below.

9 responses from the Newspage community

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Simon Bridgland
Broker at Charwin Private Clients
Thankfully summer is only around the corner and the helpful momentum of another stamp duty race has had the effect of keeping property buoyant. Now that race has ended, the winners and their hard working solicitors can pat themselves on the back, whilst the losers will have to lick their wounds and just get their wallets out again. The looming summer market should help us to maintain the current status quo in the second quarter, where we can expect to see potential signs of a rate cut, although probably not until we get into the second half of the year.
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Stephen Perkins
Managing Director at Yellow Brick Mortgages
A flat and stable market is not on anyone’s wish list. With the stamp duty discounts now gone, the market needs a new inspiration or catalyst to push on. Santander recently increasing affordability is a good first step but now we need to see this pick up momentum among other lenders. Affordability will remain the defining narrative in 2025.
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Daniel Hobbs
CEO at New Leaf Distribution
On the whole, demand for bricks and mortar has been resilient in the first quarter. January was slightly more active as there was still a good chance to beat the stamp duty deadline but brokers and estate agents have remained busy during February and March. Many first-time buyers are clambering to escape a rental market where prices are extortionately high and this looks set to continue even beyond the Stamp Duty deadline. As the year progresses, affordability and the base rate will play a key role in demand.
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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
We didn't see a material slowdown in March despite the stimulus of the stamp duty deadline effectively being removed. First-time buyers have remained active and are as keen as ever to escape the financial torment of the rental market. They know that getting onto the ladder still has value despite the fact that they may have missed out on savings. If we get a rate cut in May, demand could start to go through the gears. Clearly, the direction of inflation will play a role in whether a rate cut is delivered but the weakness of the economy suggests one is needed.
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Sean Horton
Managing Director at Respect Mortgages
The 3.9% house price growth is actually quite impressive. Yes, we'll see the usual post-stamp duty blues, but it'll be short-lived. When the Bank of England finally cuts rates, and they absolutely should, we'll see a real surge in activity. Buyers who've been sitting on their hands will jump back in. I'm convinced the summer market will be a decent one. With strong wages, low unemployment and cheaper mortgages coming, house prices won't just hold steady – they'll push higher.
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Iain Swatton
Director at Exemplar Financial Services
Annual house price growth remained steady at 3.9% in March, showing resilience despite ongoing economic pressures. Demand remains strong, but the real test could come in the next couple of months as households grapple with rising bills in what some are calling Awful April. That said, a Bank of England rate cut in the coming months would be a welcome boost, injecting fresh confidence into the market and helping to keep buyers engaged. With rates expected to ease later this year, the long-term outlook remains positive.
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Riz Malik
Independent Financial Adviser at R3 Wealth
In the next few weeks, I expect more lenders to follow Santander’s lead and relax their affordability rates or criteria meaning they can help more people. That should give the market a second wind after the stamp duty rush is over. Factor in a potential base rate cut in May and things could start to ramp up over the next few months.
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Craig Fish
Director at Lodestone Mortgages
It’s not surprising to see house prices remaining stable given the backdrop of the stamp duty holiday, low unemployment and rising wages. Whilst the stamp duty rush is over, we are still seeing pent-up demand from first-time buyers and those wanting to move home, so I expect prices to continue their steady ascent throughout the year.
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Harry Goodliffe
Director at HTG Mortgages
Nationwide’s insights align with what we’ve been seeing – the market has remained resilient despite external pressures. While there may be some short-term cooling due to the stamp duty changes, the long-term outlook appears positive. It’ll be interesting to see how the next few months unfold, particularly as summer tends to bring increased market activity.