The latest data indicates that while UK house prices have increased, conveyancing costs have remained stable, providing some predictability for buyers and investors. The average cost of purchasing a freehold property rose slightly from £1,383 in April 2025 to £1,439 in April 2026, reflecting a broader trend in the housing market.
How Have House Prices Changed?
According to government figures, the average house price in the UK increased from £260,162 in April 2025 to £270,080 in April 2026. This represents a significant upward trend, impacting affordability and the overall market dynamics for potential buyers and investors.
What Are the Current Conveyancing Costs?
The average cost of conveyancing for freehold purchases has seen a slight increase, now accounting for 0.53% of the average property value, unchanged from the previous year. This stability in conveyancing fees is noteworthy, especially as it contrasts with the rising house prices, providing some relief for buyers who may be concerned about additional costs.
What This Means for Borrowers and Investors
For borrowers and investors, the stable conveyancing costs amidst rising house prices can be a positive sign. It suggests that while property values are increasing, the associated legal costs of purchasing remain manageable. This could encourage more buyers to enter the market, potentially leading to increased competition and further price growth.
How Do Regional Variations Affect the Market?
Regional variations are also significant. In London, for instance, average house prices have decreased by 2.1%, yet conveyancing fees have remained stable, resulting in these fees accounting for just 0.32% of property values. Conversely, in Scotland, conveyancing costs have risen more quickly than house prices, increasing from 0.62% to 0.69% of the average property’s value, indicating a different market dynamic.
