House prices up 20% in 5 years – Has your home gained £55,800?
According to new data, the average UK homeowner has gained a staggering £55,800 in property value since June 2020 – a 20% increase over the past five years. But what does that mean for homeowners across the Midlands and surrounding areas?
At Carpenter Surveyors, we’ve taken a closer look at what’s been driving this growth, what it means for local property markets, and where the biggest winners (and a few losers) can be found.
UK Property Prices Since 2020: The Headline Figures
Across the country, around 80% of homes (that’s 24 million properties) have seen a rise in value since the pandemic began. In fact, 1 million homes have increased in value by at least 50%, with average gains of £117,400.
Most homeowners have seen their property gain £60,800 in value since 2020 – and for some, it’s been even more.
| Region | % of homes increasing in value by 50%+ | Average value of these homes in June 2020 | Average value of these homes in 2025 | Average value change of these homes 2020–25 |
|---|---|---|---|---|
| North West | 12% | £122,200 | £199,300 | £77,100 |
| Wales | 11% | £140,100 | £230,800 | £90,700 |
| Scotland | 6% | £129,900 | £222,900 | £93,000 |
| Yorkshire and the Humber | 6% | £129,300 | £215,500 | £86,200 |
| North East | 5% | £99,500 | £168,700 | £69,200 |
| UK (all regions) | 5% | £167,900 | £285,300 | £117,400 |
| East Midlands | 4% | £163,000 | £277,300 | £114,300 |
| West Midlands | 4% | £166,900 | £278,200 | £111,300 |
| South West | 3% | £287,200 | £503,500 | £216,300 |
| South East | 2% | £387,700 | £687,300 | £299,600 |
| East of England | 2% | £292,700 | £518,800 | £226,100 |
| London | 1% | £454,100 | £825,100 | £371,000 |
The Midlands: A Steady Climber in the Property Market
While much of the national spotlight has been on the North West and Wales, the Midlands has quietly emerged as a consistent performer.
Areas such as Derby, Nottingham, and Birmingham have benefited from:
More affordable property prices compared to the South
A strong post-pandemic rental market
Continued inward investment and regeneration in city centres
A growing commuter population
The result? Solid, reliable value increases across both the East and West Midlands.
Local buyers have been attracted by affordability and accessibility, while sellers are now seeing the rewards of holding on through uncertain times.
Regional Highlights: North and Wales Lead the Pack
Outside of London and the South East, property values have risen most dramatically in:
Wales: Up £90,700 on average for homes with 50%+ gains
Yorkshire and the Humber: Up £86,200
North West England: Up £77,100
These areas saw surging demand during the pandemic, as remote working and lifestyle changes encouraged more buyers to seek space and value beyond the capital.
Spotlight on Growth: What’s Driving the Demand?
Lifestyle shifts, the rise in remote and hybrid working, and the continued pressure on rental prices have all contributed to the increase in house prices.
Additionally, the spike in mortgage rates in late 2022 meant buyers began looking for more affordable homes. This shifted demand towards lower-value regions, including the Midlands.
Urban areas such as Rochdale, Bolton and Oldham saw huge gains. In Wales, the South Wales Valleys became hotspots, thanks to affordability and proximity to Cardiff.
The Flip Side: Slower Growth in London and the South
It hasn’t all been upwards. Some areas, particularly in inner London, have seen house prices fall. Around 13% of homes in the capital have dropped in value by at least 5%, with losses averaging £34,000.
Areas such as Westminster and Kensington & Chelsea have been hardest hit. However, these boroughs had already seen enormous price growth in previous years, meaning most owners are still ahead overall.
In the South East, values have largely plateaued – but high property prices mean even modest increases equate to big sums. Average value gains here are around £62,000 over five years.
Localised Trends: A Midlands Perspective
Here in the Midlands, the story is one of balanced, consistent growth.
While not hitting the dramatic highs of the North West or Wales, property values in places like Leicester, Coventry, Wolverhampton and Northampton have shown healthy increases.
Many of our clients at Carpenter Surveyors have reported value gains of 15–25% since 2020, often thanks to improvements made during lockdown or simply by staying on the market during a time of high demand.
Rural and semi-rural areas have also seen a bump, with more buyers prioritising outdoor space and lifestyle.
Expert Insight: Understand Your Local Market
As Richard Donnell of Zoopla put it, “There is no single housing market in the UK.” Local dynamics matter more than ever – and sellers who understand what’s happening in their specific area are the ones most likely to succeed.
He adds:
“1 million UK homes have increased in value by 50% or more in just five years. But with the most homes for sale in 7 years, sellers need to price accurately and work with agents who know the market inside and out.”
With extensive knowledge of the Midlands property market, we offer:
RICS-certified valuations
Detailed condition surveys
Help with accurate pricing before a sale
Advice tailored to your area and home
Curious About Your Home’s Value?
You might be one of the 1 million whose property is worth 50% more than it was in 2020 – or you might be somewhere in between.
Contact Carpenter Surveyors today and get a quote for a survey or valuation.
📍 Based in the heart of the Midlands
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💻 www.carpentersurveyors.co.uk