Liverpool is among those to see house price jumps
According to property website Zoopla one million homes have seen their value increase by 50% since the pandemic(Image: Pixabay)
The value of around one million homes in the UK have “increased by at least half” since the coronavirus pandemic, according to new figures. According to estimates by Zoopla, the house values have increased by a fifth – 20% – on average since 2020.
According to the property website, many of the homes that have seen their value increase by 50% or more in the past five years are located in northern England and Wales. Pandemic and lifestyle-led changes in buyer requirements are have said to have prompted interest in previously overlooked areas that offer good value for money.
Zoopla said rental price hikes in cities have also encouraged first-time buyers to purchase in more affordable areas where buying can be a cheaper alternative. The website also highlighted some hotspots that have emerged in Wales and northern England, PA reports.
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Zoopla added that parts of North West England located near Manchester and Liverpool have seen house price jumps. Richard Donnell, executive director at Zoopla, said: “Our latest analysis clearly shows there is no single housing market and that house price trends vary widely across the UK.
“One million UK homes have seen their value increase by 50% or more over the last five years as higher mortgage rates and rising rents encourage home buyers to seek out value for money in localised markets across northern England and Wales.”
“Home value growth has been weaker across southern England and particularly in London. A combination of high prices and higher mortgage rates has reduced buying power, and this has been reflected in flat prices and modest price falls in inner London.
“The UK currently has the most homes for sale in seven years. It’s critically important serious sellers fully understand the local market dynamics impacting the value of their home and seek the advice of agents on where to set the asking price for their home in order to achieve a sale.”
When it comes to the data, Zoopla said South Wales presents a “compelling picture,” with buyers able to find good value and be within commuting distance to Cardiff. Areas such as Blaenau Gwent and Merthyr Tydfil have seen three-in-10 homes increase in value by 50% or more over the past five years.
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In the North West, homeowners in Rochdale, Oldham and Bolton are among those who may have seen their property’s value surge by 50% or more over the past five years. The website added that the sizable value increases observed in the North are less common in southern regions.
A significant proportion of homes in the South that have experienced substantial value growth in recent years tend to be concentrated in desirable coastal destinations and areas of natural beauty, such as the Isle of Wight, Zoopla added.
Matt Thompson, head of sales at London-based estate agent Chestertons, said: “In London, buyer demand has remained relatively strong over the past weeks, which is resulting in stable or increasing property values in certain areas. Other parts of the capital, such as prime central London, however, have seen a slight price adjustment, which is giving more domestic buyers the opportunity to purchase a property in sought-after locations within their initial budget.”
Zoopla’s analysis compared current home value estimates published on the website with values in June 2020. The main figures included the whole of the UK, while sub-national analysis excluded Northern Ireland.
Below are the percentages of homes in each region or nation that have seen average value gains of 50% or more in the past five years – with the average price in June 2025 and the average cash increase among homes with a value change of 50% or more:
- London, 1%, £825,100, £371,000
- South East, 2%, £687,300, £299,600
- East of England, 2%, £518,800, £226,100
- South West, 3%, £503,500, £216,300
- East Midlands, 4%, £277,300, £114,300
- West Midlands, 4%, £278,200, £111,300
- Scotland, 6%, £222,900, £93,000
- Wales, 11%, £230,800, £90,700
- Yorkshire and the Humber, 6%, £215,500, £86,200
- North West, 12%, £199,300, £77,100
- North East, 5%, £168,700, £69,200