NORTH WEST
£544,000 £731,307 +1.1%
£381 £3.43bn 534
Source: Dataloft by PriceHubble, Bank of England, HMRC, ONS
MIXED SIGNALS
The housing market has shown some signs of recovery in the early months of the year, following a quieter end to 2025. Greater mortgage choice and lower rates than last year are supporting confidence, although unfortunately current geopolitical risks could reverse some of these gains.
GEOPOLITICAL RISKS
Consumer price inflation slowed to 3.0% in January, down from 3.4% in December¹, continuing the broader downward trend as inflation gradually comes under control. Interest rates were held at 3.75% in February, a decision widely expected by economists given the mixed economic backdrop. However, escalating geopolitical tensions in the Middle East could create fresh inflationary pressures, which may also keep interest rates higher for longer. If tensions persist, this could lead to a renewed rise in mortgage costs, reminding borrowers that the era of very low interest rates is unlikely to return in the near term.
ACTIVITY LEVELS
While mortgage approvals eased in January - falling to the lowest level in two years, partly reflecting uncertainty surrounding the November Budget² and in part a seasonal story - overall activity has remained resilient. In January, transactions were just 1% lower than a year earlier, indicating a broadly steady market³. Despite affordability in many parts of the country remaining stretched, conditions have been gradually improving, with easing interest rates and real wage growth helping to support buyer confidence. Some leading indicators have weakened a little suggesting a potential slowdown in activity – the new buyer enquiries in the latest RICS survey fell to a net balance of -26% in February compared with -15% in January. Geopolitical tensions might exaggerate this further depending on how long tensions persist.
EARLY YEAR MOMENTUM
The housing market built on its steady start to the year in February, with average prices rising by 0.3%, following a 0.8% increase in January4 . Annual growth also
strengthened to 1.3%, the fastest pace in four months, suggesting early year momentum in the market. In the North West, the prime markets of Liverpool and Warrington are currently the best performing. Looking ahead, modest growth is expected, with house prices forecast to rise by 2.2% over the year to the end of 20265
BROADER MIX OF BUYERS IN 2025
Cash buyers made up 28% of transactions in 2025, leaving 72% of purchases financed with a mortgage 6 . These proportions are back in line with levels seen in 2021 and 2022, before borrowing costs rose sharply. In 2023, as interest rates peaked, the market became far more dependent on cash purchasers. That year, 34% of sales in England and Wales were completed without a mortgage, well above the 28% average recorded over the previous five years. Conditions began to shift in 2024 as mortgage rates eased and affordability pressures started to soften. Mortgaged purchases increased, reducing the share of cash transactions to 31%. By 2025, as interest rates fell further, the mortgage activity has returned to the five-year average seen prior to 2023, and the market has returned to more normal conditions, reflecting a broader mix of buyers.
AVERAGE TIME TO SELL
With price sensitivity still a critical characteristic of the property market, understanding local dynamics and setting a realistic asking price remain essential for achieving a timely sale. The average time to sell a property in England and Wales is currently 40 days, although this varies considerably by region7. Higher-priced regions tend to see slower sales, while more affordable areas are seeing homes change hands more swiftly. In the North West, the average time to sell is 38 days, quicker than the regional average.
£544,000
£731,307 +1.1%
£381
£585,000
£762,221 -0.7%
£381
£485,000
£626,069 -0.7%
£334
£725,000
£947,407 -6.9%
£464
Source: Dataloft by PriceHubble, Land Registry.
£919,000
£1,277,949 -6.9%
£562
£425,000
£560,713 +0.5%
£301
£512,000
£678,430 -0.8%
£352
£527,000 £686,604 -3.1%
£332
£800,000 £1,064,111 -5.1%
£523
£1,460,000
£2,273,431 -15%
£1,145
NORTH WEST PREMIUM MARKET
£442,000
£534,799 -7.9%
£283
£562,000
£742,154 -1.3%
£358
£450,000
£578,697 +3%
£285
£470,000
£622,421 +11.4%
£378
Source: Dataloft by PriceHubble, Land Registry.
£707,000
£906,886 -3.4%
£400
£315,000
£395,377 -0.2%
£245
£450,000
£571,082 -3.3%
£302
£415,000
£511,250 +0.2%
£300
£412,000
£549,521 +0.3%
£298
£735,000
£987,328 +1.2%
£468
£577,000
£739,884 +3.6%
£365
NORTH WEST PREMIUM MARKET
Source: Dataloft by PriceHubble, Land Registry.
Source: Dataloft by PriceHubble, Land Registry.
NORTH WEST MAINSTREAM MARKET
NORTH WEST
Source: Dataloft by PriceHubble, Land Registry.
NORTH WEST
Source: Dataloft by PriceHubble, Land Registry.
£208, 832
£544, 000
£731, 307
£139, 450
£331, 000
£442, 453
£155, 109
£350, 000
£456, 214
£232, 529
£473, 000
£605, 175
£379, 073
£825, 000
£1, 113, 945
£219, 742
£562, 000
£753, 969