House price indices reveal market resilience
Two house price indices have been published this week, revealing a stable market as 2025 continues its good start.
Mortgage lender Nationwide reported a 3.9% growth in house prices over the year (Jan: 4.1%), with a monthly increase of 0.4% bringing the average property value to £270,493.
Meanwhile, Zoopla revealed annual house price growth of 1.9% in January, with the average property priced at £267,200.
The report also noted that the value of houses has increased by 24% over the last five years; three times faster than the value of flats, which have seen 7% growth.
The price gap between houses and flats is now at a 30-year high.
Official house price data for December 2024 has found that property values fell by -0.1% in the month, but increased by 4.6% annually to reach £268,000.
Data from the UK Property Transactions Statistics also found that the estimated number of transactions in December 2024 was 18.7% higher than December 2023.
Government takes forward all Grenfell recommendations
Angela Rayner confirmed to parliament this week that the Government would proceed with all 58 recommendations of the Grenfell Tower Inquiry’s final report.
Rayner also said that the Government would introduce a ‘super regulator’ for the construction industry from 2028, and appoint a Chief Construction Adviser to monitor the Government’s work “relating to the Building Regulations, statutory guidance and the construction industry more generally.”
We are acting on all of the Inquiry’s findings, and today set out our full response, detailing the tough action we are taking to drive change and reform the system to ensure no community will ever have to face a tragedy like Grenfell ever again.
Angela Rayner, Deputy Prime Minister and Housing Secretary
Taylor Wimpey reports on “robust” market
Volume housebuilder Taylor Wimpey revealed their 2024 full year results this week, completing 10,593 homes last year.
The firm also expects completions in 2025 to be between 10,400 and 10,800 homes.
Taylor Wimpey revealed that revenue fell by -3.2% to £3.4bn, and operating profit fell by -11.5% to £416.2m.
Taylor Wimpey CEO Jennie Daly said: “I’m pleased with our performance in 2024, delivering a strong sales rate and in line results while achieving the highest customer service scores and overall build quality that we have ever had at Taylor Wimpey. This is testament to the hard work and commitment of our teams across the group.”
Housing View 