Only about one in seven homes across the UK has consistently increased in value annually from June 2022 onwards, according to estimates by property website Zoopla. The analysis, which examined valuations of individual homes from June 2021 to June 2026, found that just 14% of UK homes – equating to just over four million properties – had increased in value each June compared with the previous year.
Regional variations in house price growth
Zoopla's house price index indicates that the average UK home value has increased by 15.3% over the past five years, equating to an average of £36,100 per home. However, the impact of higher mortgage rates has varied across regions. Richard Donnell, executive director at Zoopla, said: “Housing markets across Northern Ireland, the North and Scotland have seen homeowners keep building equity in their home because the local housing market was less exposed to the affordability pressures that higher mortgage rates bring.”
Northern Ireland had the highest proportion of homes with consistent annual growth at 37.9%, followed by the North West (29.7%), Scotland (22.6%), Yorkshire and the Humber (22.0%), and the North East (20.5%). In contrast, the East of England had the lowest at 2.6%, with the South East at 3.2% and the South West at 4.1%.
Top performing local areas
Zoopla also identified “top performers” in regions where property values are particularly likely to have increased each year. In Scotland, Bonnybridge led with 60.5% of homes consistently increasing in value, followed by Antrim in Northern Ireland at 60.5%, Castleford in Yorkshire and the Humber at 53.6%, Dukinfield in the North West at 51.1%, and Wednesbury in the West Midlands at 51.3%.
In London, Dagenham had the highest share at 31.6%, while in the South East, Bicester reached 27.7%. The East of England's top performer was Witham at 13.3%, and the South West's was Dursley at 15.1%.
Market fragmentation and affordability
Aneisha Beveridge, research director at Connells Group, said: “The UK’s housing market has become increasingly fragmented over the last five years. The strongest performance has generally come from more affordable markets across the north of England, Scotland and Northern Ireland, where lower price points have helped insulate buyers from higher mortgage rates and supported continued demand.”
Charlotte Harrison, chief executive officer of home financing at Skipton Building Society, said: “Consistent house price growth can help homeowners build equity, but equity alone doesn’t guarantee people can move. For many households, the challenge is no longer whether their home has risen in value, but whether they can afford the higher ongoing costs of their next property.”
Nathan Emerson, CEO at Propertymark, added: “Many purchasers are factoring in the long-term cost of homeownership rather than focusing solely on securing a property quickly. At the same time, sellers who price their homes realistically continue to attract strong interest, demonstrating that demand remains resilient where expectations align with current market conditions.”
