Plymouth’s property market heats up – but locals hope price growth cools
House prices in Plymouth rose faster than anywhere else in 2025, climbing 12.6%, according to Lloyds’ latest analysis of its mortgage data.
That pace of growth puts the city firmly on the map as one of the UK’s emerging housing hotspots, with a mix of coastal living, regeneration and relative affordability drawing in buyers.
Local property experts point to ongoing investment – including developments such as Royal William Yard – alongside improved retail, sporting, culinary and lifestyle amenities as key drivers of demand. Together, these are helping to recast Plymouth as a vibrant coastal city where buyers can still get comparatively good value for money.
Affordability and lifestyle still Plymouth’s big selling points
Despite the sharp increase in prices, Plymouth-based broker Joe Bartlett said the city remains attractively priced when compared with other coastal and regional centres.
“It’s always surprised me how affordable homes in Plymouth still are, considering you’ve got a coastal city with beaches, green space and a great quality of life on the doorstep,” Bartlett told Mortgage Introducer. “I work with buyers across the country but live and work locally, so I’m constantly comparing values — and Plymouth still stacks up very well.”
For many buyers, the combination of lifestyle and affordability is a key part of the appeal. The ability to access family homes and first‑time buyer properties at price points that would be far more challenging in other seaside or commutable locations is helping to fuel ongoing demand.
Local buyers driving demand – not a relocation wave
While the headline data and city‑wide regeneration might suggest a flood of buyers from elsewhere in the UK, Bartlett said the market on the ground still feels predominantly local.
“Most of the buyers I work with are local first-time buyers and families rather than large numbers relocating in,” he explains.
That means brokers are working with a strong base of Plymouth and wider Devon residents: younger purchasers taking their first step onto the ladder, and existing homeowners looking to upsize or move into areas with better amenities, schools and transport links.
Balancing growth with accessibility
With double‑digit annual price growth, the question now is whether Plymouth can maintain its newfound status as a hotspot without squeezing out the local buyers who currently underpin demand.
“From that perspective, I do hope price growth starts to level out, as continued sharp increases will only make it harder for locals to get on the ladder,” Bartlett continued.
That tension is already shaping intermediaries' conversations with clients. On one hand, there is a sense of urgency among buyers keen to secure a property before prices move further out of reach. On the other, affordability pressures mean greater emphasis on income multiples, careful product selection and, in some cases, creative solutions such as longer terms or support from family.
Other housing hot spots
Beyond Plymouth, Stafford and Wigan also recorded double-digit house price growth in 2025, rising by 12.0% and 10.5% respectively.
Two of the top 10 locations for price growth were in Yorkshire and the Humber. Wakefield recorded an 8.7% increase, while Hull saw prices rise by 6.5%. The latter was also named one of National Geographic’s “Best of the World” destinations for 2026.
London valuations have slid, but still sit at the top end of the market.
Commenting on the findings, Amanda Bryden, head of mortgages at Lloyds, said:
“Our customers’ dream homes are found in pockets around the UK, and we’ve supported thousands of people to take their next home-buying step this year. While house prices play a role, choosing where to live is also about finding a place that feels right – a community you connect with, a commute that works for you, and a lifestyle that fits you.”
