House prices in the north are up almost 8% on last year at a rate of more than double the rise seen in the next highest region of the UK, despite an early market “slowdown” ahead of Christmas.
Property website Zoopla said that the usual dip in house sales noted towards the end of the year has started early across the UK, but prices in Northern Ireland remain “robust”.
Data on agreed sales in September this year showed that house prices in the north rose by 7.6% when compared to the same period last year.
Read more: Southern earners are moving to Northern Ireland for cheaper homes
The areas with the next highest price jump were England’s north-west at 3% and Scotland at 2.7%.
However, areas like London saw price growth of just 0.1%, while England’s south-west experienced a fall in prices of 0.1%.
Zoopla said that the annual end-of-year dip in sales has been amplified by a strong final quarter in 2024, when many people rushed to complete sales before stamp duty discounts became less generous in April 2025.
Its report said that uncertainty over the next government budget in November is acting as a drag on sales agreed, particularly for homes priced above £500,000.
Some parts of Britain are seeing stronger sales than a year ago, such as Scotland, Yorkshire and the Humber, the South West and the West Midlands, Zoopla said.
But Wales, the south east, east of England and London are experiencing a particularly sharp slowdown in new sales being agreed.
Zoopla said that the usual pre-Christmas drop in house sales had started early this year PICTURE: ANDREW MATTHEWS/PA
They also said that house price growth has “virtually stalled” across southern regions of England, limiting price increases.
However, price growth remains “robust” in areas including Northern Ireland, Scotland, Wales and northern regions in England, it said.
While the market for new business has started to slow, Zoopla estimated there is a pipeline of nearly 350,000 homes across the UK, valued at over £100 billion, working through the sales process.
It said this is the biggest pipeline in over four years, since May 2021 “when the pandemic boom was in full swing”.
The report said: “Stability in mortgage rates has brought more sellers into the market, many of whom are also buyers, alongside strong demand from first-time buyers.”
The website used its own data to make the sales pipeline estimate for the UK market.
Richard Donnell, executive director at Zoopla, said: “The housing market is experiencing a slowdown in activity but there are still serious sellers looking to buy homes and secure their next home purchase.
“The housing market remains on track for the most housing sales since 2022 and house prices are set to end the year 1% to 1.5% higher than the start of 2025.”