Your Spring 2025 Property Market Update: Renewed Resilience
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“The UK housing market is showing renewed resilience, bouncing back after the pre-April stamp duty rush.
House prices have risen by 6.4%, now averaging just over £271,000. While property sales have dropped by 28%, this reflects a natural adjustment following the early surge in demand.
Mortgage approvals have only dipped slightly, down 2.1%, indicating steady buyer interest. Meanwhile, new home completions are down nearly 14%, and gross mortgage lending has fallen by 19.2%.
Still, confidence is growing. Over half of estate agents report improved buyer sentiment. And with an interest rate cut in May, demand is rising once again. May even saw the highest number of agreed sales in four years.
At the same time, more homes are coming to market—up 13% year-on-year—offering buyers a wider range of options.
And with the UK economy growing by 0.7% in Q1, driven by a stronger service sector, the housing market remains underpinned by solid fundamentals.”
“Let’s take a closer look at the housing market in Cheshire East, one of the North West’s most active property areas.
Over the past year, house prices in Cheshire East have risen by 10.7%, with the average home now costing around £303,541. This puts the area among the top ten for annual price growth in the region.
Buyer activity remains strong, driven by improving confidence and a broader choice of properties. Homes in the North West, including Cheshire East, are now selling faster—taking just 35 days on average to go under offer.
And with over 211,000 new homes built across the UK in the past year, backed by strong government planning ambitions, Cheshire East is well positioned to benefit from continued growth and housing demand.”
