House prices, rents push higher across the UK - ONS

(Sharecast News) - House prices and private rents across the UK continued to push higher as 2025 got underway, official data showed on Wednesday. According to provisional estimates from the Office for National Statistics, average house prices rose by 4.9% in the 12 months to January.

An increase on December's annual growth of 4.6%, it was also the fastest jump since January 2023.

As a result, the average price of a house in the UK is now £269,000.

Average UK monthly private rents, meanwhile, surged 8.1% in the 12 months to February, although that was a slowdown compared to January's 8.7% hike.

Across the UK, rents jumped 8.3% in England, to £1,381. In Wales and Scotland, they rose by 8.5% to £785 and by 5.8% to £998 respectively.

Northern Ireland reported an 8.1% rise in the 12 months to December to £832.

Katy Eatenton, mortgage and protection specialist at Lifetime Wealth Management, said: "The stamp duty deadline may have played a role in the slight increase in average house prices; December and January were both very busy as people sought to beat it.

"Given the weakness of the economy, 2025 is highly unlikely to deliver barnstorming house price growth, but equally it's also unlikely to see house prices retreat due to the lack of supply.

"Falling rents is a positive, but they're still high."