What’s happening to house prices?

House prices have risen slightly so far this year, but hopes of a significant market uplift have been delayed by stubbornly high mortgage rates. 

The latest data from the Land Registry shows an annual rise of 1.1%, with the average UK house price standing at £281,000 in March. While this isn’t far off the all-time high of £292,000 recorded in September 2022, prices have largely been trending downwards rather than upwards.

Here, Which? analyses what’s happening to house prices according to other indices including Nationwide, Halifax, Rightmove and Zoopla, and explains what might come next.