The UK region that has seen the most widespread house price growth over the last five years has been revealed – and it’s not London or the North West. New analysis by property website Zoopla has found that only around one in seven homes across the UK is estimated to have increased in value annually from June 2022 onwards.
The firm analysed valuations of individual homes, starting in June 2021 and ending in June 2026. It specifically looked at the month of June, analysing whether valuations had increased that month compared with the month of June the year before. For example, covering the first year, Zoopla looked at whether the valuation of a home in June 2022 was higher than in June 2021. At the top of the tree is Northern Ireland, where 37.9% of homes increased in value year-on-year (covering June 2022 to June 2026 inclusive).
The runner-up was the North West of England with 29.7%, with the rest of the top five made up of Scotland (22.6%), Yorkshire and the Humber (22.0%), and the North East of England (20.5%).
You can find the full ranking below.
- Northern Ireland, 37.9%
- North West, 29.7%
- Scotland, 22.6%
- Yorkshire and the Humber, 22.0%
- North East, 20.5%
- West Midlands, 19.6%
- Wales, 19.1%
- East Midlands, 9.8%
- London, 4.6%
- South West, 4.1%
- South East, 3.2%
- East of England, 2.6%
Notably, the overall average is somewhat lower than what was seen in NI. Zoopla estimated that just 14% of UK homes – equating to just over four million properties – had increased in value annually each June from June 2022 to June 2026.
But while some homes will not have consistently increased in value each year, Zoopla said its house price index indicates the average UK home value has increased by 15.3% over the past five years, equating to an average of £36,100 per home.
Zoopla said that rises in mortgage rates, affecting borrowers’ costs, will have had an impact over the five-year period.
Richard Donnell, the company’s executive director, 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.
“For homeowners, this analysis highlights why you cannot rely on national or regional averages when assessing what your home is worth.
“Trends vary by property type and at a hyper local level. Understanding whether your local area has consistently built equity or flatlined is essential information, if you want to understand what you can afford to buy next or you are actively planning your next move.”
Aneisha Beveridge, research director at Connells Group, added: “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.
“At the same time, the pandemic sparked a surge in demand for larger homes in commutable areas outside London, driving strong price growth across much of the south between 2020 and 2022.
“However, as mortgage rates rose and stamp duty incentives were withdrawn, that momentum faded and price growth in many of these markets has since come under pressure.
“Despite these headwinds, our research shows the middle market is still moving. Most buyers and sellers are driven by life events rather than short-term house price movements, and for homeowners who typically move every 10 to 12 years, modest annual price falls rarely affect their ability to transact.
“The challenge comes when weak price growth persists for many years.”
Zoopla also singled out “top performers” in regions or nations, where property values are particularly likely to have risen each year.
You can find the locations, followed by the percentage of homes estimated to have consistently increased in value annually from June 2022 to June 2026 here:
- Northern Ireland, Antrim, 60.5%
- North West, Dukinfield, 51.1%
- Scotland, Bonnybridge, 60.8%
- Yorkshire and the Humber, Castleford, 53.6%
- North East, Hebburn, 42.6%
- West Midlands, Wednesbury, 51.3%
- Wales, Tonypandy, 46.6%
- East Midlands, Hope Valley, 37.5%
- London, Dagenham, 31.6%
- South West, Dursley, 15.1%
- South East, Bicester, 27.7%
- East of England, Witham, 13.3%