If you bought your home five years ago, you might want to take a peek at what it’s worth today, it could be a pleasant surprise.
Our latest research shows that while most homeowners have seen steady gains of just under 20% over that period, more than two million homes have gained £100,000 or more in that time.
But as ever, location matters, and the scale of your gains depends very much on where you call home.
Wondering how your home’s value has evolved over the past five years? Visit MyHome to see your latest estimate and use our personalised estimate tool to make sure it truly reflects your property.
Where are homes increasing in value?
It’s perhaps no surprise that the biggest value hikes are found in the South of England, where house prices already start from a higher base.
In fact, around 6 in 10 homes that have gained £100,000 or more in the past five years are located in the south.
London leads the charge, accounting for 16% of these properties; that’s nearly 400,000 homes that have seen six-figure gains.
Not far behind are the Home Counties, including Berkshire, Buckinghamshire, Hertfordshire, Kent, Essex and Surrey, where another 400,000 homes have also crossed the £100k mark.
Step outside the capital and its commuter belt, and you’ll still find some impressive hotspots. Places like the Cotswolds, Trafford, South Hams and Malvern Hills have all seen more than a quarter of local homes rise by at least £100,000 since October 2020 - proof that strong growth isn’t just confined to the city lights.
Region | Percentage of homes up by £100k+ | Number of homes up by £100k+ |
East of England | 40% | 20,994 |
South East | 38% | 16,250 |
London | 37% | 25,510 |
South West | 33% | 11,300 |
North West | 31% | 25,433 |
West Midlands | 25% | 6,895 |
East Midlands | 24% | 6,178 |
Wales | 23% | 7,507 |
Yorkshire and The Humber | 21% | 12,322 |
Scotland | 21% | 5,175 |
North East | 13% | 10,675 |
The North West sees fastest growth
While the South of England leads in cash gains, the North West and Wales have seen the most dramatic percentage increases.
Across the UK, over 800 thousand homes have jumped in value by 50% or more over the past five years, and just under a third of these (240,000 homes - 30%) are found in the North West.
In places like Rochdale, Oldham and Bolton, values have surged as buyers seek better value for money within commuting reach of Manchester and Liverpool.
South Wales has also shone, particularly in Rhondda Cynon Taf and Merthyr Tydfil, where 2 in 10 homes have risen by 50% or more since 2020.
Where are homes losing value?
Of course, not every homeowner has seen their property’s value rise. Over the last five years, 1.4 million homes across the UK have actually fallen in value by at least £10,000, showing just how varied the market has become.
London has seen the biggest share of losses, with around 1 in 4 homes now valued below their pre-pandemic level. Nearly 275,000 homes in the capital have dropped by £50,000 or more, and about 200,000 of those are in inner boroughs such as Westminster, Kensington and Chelsea, where 3 in 10 homes have fallen by £100,000 or more.
Region | Percentage of homes down by £10k+ | Number of homes down by £10k+ |
London | 70% | 76,000 |
Scotland | 43% | 25,000 |
South East | 19% | 7,000 |
East of England | 14% | 4,000 |
South West | 6% | 4,000 |
West Midlands | 6% | 23,000 |
Yorkshire and The Humber | 5% | 3,000 |
Wales | 4% | 2,000 |
East Midlands | 4% | 5,000 |
North West | 4% | 4,000 |
North East | 3% | 3,000 |
Beyond London, some homeowners in Aberdeenshire and parts of urban Essex and Surrey have also seen values edge back, reflecting slower demand in higher-priced or more specialised markets.
Still, these areas are the exception rather than the rule. For most of the country, values have either held steady or grown; a sign of how resilient the UK’s housing market has remained, even amid rising mortgage costs and a broader cost of living squeeze.
Why the five-year view matters
Looking back to June 2020 gives us a clear picture of how the market has evolved through an extraordinary period. The pandemic changed what buyers were looking for, with more people seeking space, greenery and better value outside traditional commuter zones.
Those trends drove price growth in areas that had previously flown under the radar, especially across the North West and Wales.
Then, as mortgage rates rose and affordability tightened from 2022 onwards, demand shifted again, slowing price growth in the South, but keeping activity steady in regions where homes still offered relative affordability.
Five years on, this comparison also speaks to a more personal milestone. Many homeowners start to reassess their next move around the five-year mark (the so-called “five-year itch”) whether that means upsizing, downsizing, or exploring a new location.
Making the most of your paper gains
For those thinking about selling, these figures might be the nudge you need to check what your home is worth today. Even if you’re not planning to move, knowing your current home value can help you plan your next steps - whether that’s remortgaging, renovating, or simply celebrating how much your property has grown in five years.
While the market continues to evolve, many homeowners remain in a stronger position than they might expect. And for those who’ve seen slower growth, history suggests the market has a way of balancing itself out over time.
So, whether your home has gained £100,000 or £10,000, it’s worth taking stock of how much things have changed since 2020, and what that could mean for your next chapter.
