What's Happening in the UK Property Market: April 2025
April kicked off with some big talking points in the UK property market. We are used to ups and downs in the property market but at present we seems to be in a balanced period.
Whether you're buying, selling, letting, or renting, here’s what’s been happening in recent times and what it could mean for you in our part of Surrey. At Nicholls Residential, we’re here to keep you informed with practical updates and local insights.
House Prices: Where Do Things Stand?
House prices across the UK have continued a slow but steady upward trend. According to the latest UK House Price Index from theOffice for National Statistics, the average UK house price in February 2025 (the most recent confirmed data) is showing a 1.8% increase year-on-year.
Rightmove House Price Report – April 2025
Rightmove reports that the average asking price for homes entering the market in early April reached a record high of £377,182, driven by seasonal demand and improved confidence.If you're thinking of selling your home or exploring property for sale in our part of Surrey, this season offers one of the strongest windows of opportunity in recent years.
Mortgage Rates: Stabilising with Caution
Mortgage rates have settled somewhat following volatility in late 2024. As of early April:
- The average two-year fixed rate is 4.84%
- The average five-year fixed rate is 4.72%
These figures are down from the highs of over 6% seen last year and are giving more borrowers room to manoeuvre. Some high street lenders are even offering sub 4% deals for those with larger deposits.
Lenders are still cautious, so if you’re buying property in Surrey, it’s wise to secure a mortgage agreement in principle early to strengthen your position.
Sellers: A Seasonal Window of Opportunity
Spring traditionally brings a rise in new listings, and 2025 is no exception. Rightmove reports buyer demand is up 5% compared to April 2024, with more homeowners taking advantage of the seasonal surge in interest.
If you're considering selling your home in Surrey, pricing it correctly and ensuring it's market-ready will be vital. Call us to book a valuation.
Top tips for sellers:
- First impressions count – Fresh paint, tidy gardens, and welcoming entrances all help.
- Accurate valuations – Our team at Nicholls Residential can help set the right asking price based on current market trends in Surrey.
- Show it off – Use high-quality images, property tours and floorplans to capture attention online.
Speak to us - your local estate agent in Surrey - to discuss the best way to market your property this spring.
Buyers: Be Prepared to Move Quickly
Buyers are feeling cautiously optimistic. With wages on the rise and inflation softening, affordability is gradually improving. According to Nationwide, earnings are now outpacing house prices in many areas.
If you’re looking to buy property in Surrey, here’s how to get ahead:
- Sort your finances early – A mortgage in principle puts you in a stronger negotiating position.
- Be ready to move – In-demand homes are still selling fast, especially when priced correctly.
- Think about long-term value – Energy efficiency, location, and futureproofing are all worth factoring in.
We’ve got a range of properties for sale in our part of Surrey. View our current listings or speak with one of our team.
Rental Market: High Demand, Some Cooling on Prices
The rental sector is still feeling the pressure of high demand, though growth in rents is now stabilising after some big rises in recent years. According to the Office for National Statistics, the average UK rent in March 2025 shows a 7.7% rise over the past 12 months.
For landlords in Surrey, it’s a market full of opportunity - but also one that demands careful management and awareness of legislative updates.
With the Renters' Rights Bill due to become law later this year, the way tenancies are managed will soon look quite different. Proposed changes include:
- Abolishing fixed term assured tenancies
- All tenancies becoming periodic
- Four-month notice periods for landlords regaining possession to sell
- Limit of one rent increase per year
If you’re a landlord in Surrey, Nicholls Residential can help you keep your property compliant and your tenancies running smoothly.
What’s Next for the Property Market?
The rest of Spring is expected to bring solid levels of market activity. We could see continued house price growth over the next few months. Nationwide is forecasting a 2–4% increase in 2025 if inflation remains controlled.
Lettings will stay competitive, and legislation will continue to reshape landlord responsibilities. Staying informed, prepared, and adaptable will be the key to success.
Looking for Help?
Whether you’re buying, selling, letting or renting in our part of Surrey, Nicholls Residential is your local expert. Our team is here to support you through every stage of your property journey.
Call us or email (This email address is being protected from spambots. You need JavaScript enabled to view it.) to get started.
Epsom Office - 01372 730111
West Ewell Office - 0208 786 7879
Chessington Office – 0208 391 1110
North Cheam Office – 0208 644 3480
We know property better than anyone and are proud to be a trusted estate agent in Surrey. We look forward to hearing from you!
