It’s a historic maritime city in Devon, famous for being the starting point for the Mayflower voyage 400 years ago and home to western Europe’s largest naval base.
But Plymouth – once home to explorer Sir Francis Drake – now has another claim to fame having been identified by Lloyds as the top ‘housing hotspot’ of 2025.
The port city recorded the steepest rise in the value of homes during the last year in the locations analysed by the bank, up by £31,229 from £247,579 to £278,808.
Property values across Plymouth rose by 12.6 per cent on average in 2025 compared with 2024, according to the figures based on the company’s own mortgage data.
The growth has been linked to major infrastructure investments such as Royal William Yard, a former naval area turned into a modern complex with homes and shops.
Improved retail, restaurants and lifestyle amenities have also been cited for creating a more competitive property market that has led to property prices increasing.
Stafford came in second place in the study with a rise of 12.0 per cent or £34,516 to £321,248; while Wigan was third, up by 10.5 per cent or £23,740 to £249,562.
Wakefield, Mansfield, Woking, Liverpool, Rugby, Falkirk and Hull also made the bank’s top ten hotspots with increases of between 6.5 per cent and 8.7 per cent.
A Grade II-listed country house in Brixton just outside Plymouth is on the market for £2million
A six-bedroom property in a cul de sac in the Glenholt area of Plymouth is on sale for £735,000
A five-bedroom end-of-terrace home on Houndiscombe Road in Plymouth is on for £425,000
The Royal William Yard is a former naval of Plymouth turned into a modern complex with homes
| Local area | Region | Average home value 2024 | Average home value 2025 | £ Growth in value | % growth in value |
|---|---|---|---|---|---|
| Plymouth | South West | £247,579 | £278,808 | £31,229 | 12.6% |
| Stafford | West Midlands | £286,732 | £321,248 | £34,516 | 12.0% |
| Wigan | North West | £225,822 | £249,562 | £23,740 | 10.5% |
| Wakefield | Yorkshire and the Humber | £263,381 | £286,268 | £22,887 | 8.7% |
| Mansfield | East Midlands | £223,807 | £243,251 | £19,444 | 8.7% |
| Woking | South East | £518,453 | £560,499 | £42,046 | 8.1% |
| Liverpool | North West | £236,864 | £254,550 | £17,686 | 7.5% |
| Rugby | West Midlands | £349,203 | £374,653 | £25,450 | 7.3% |
| Falkirk | Scotland | £222,718 | £238,512 | £15,794 | 7.1% |
| Hull | Yorkshire and the Humber | £187,142 | £199,348 | £12,206 | 6.5% |
| Source: 2025 vs 2024, rolling 12-month data to end October each year. Locations only included where Lloyds Banking Group has made a minimum of 150 mortgage offers in the period, all buyers excluding Buy to Let and Shared Ownership. | |||||
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 property 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.’
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The South East dominated the locations where the value of homes fell or grew most slowly in the past year, the report said.
Crawley and High Wycombe recorded the sharpest declines, with home values falling by 8.9 per cent and 7.4 per cent respectively.
A 6.4 per cent fall in average property values was also recorded in Chester, but the north west of England overall recorded growth of 3.7 per cent in property values, the report said.
Lloyds also recorded a 5.2 per cent fall in average property values in Cardiff, despite home values rising in Wales by 2.3 per cent generally.
Ms Bryden added: ‘If you’ve got your heart set on a particular location, it’s worth taking time out to do some research and see what’s happening with prices there, as swings in value at a local level can make a big difference to how much you may need for a deposit, stamp duty or wider moving costs.
Is YOUR hometown on the list?
Go to comments| Local area | Region | Average home value 2024 | Average home value 2025 | £ Fall in home value | % Fall in home value |
|---|---|---|---|---|---|
| Crawley | South East | £408,519 | £372,202 | -£36,317 | -8.9% |
| High Wycombe | South East | £471,373 | £436,379 | -£34,994 | -7.4% |
| Chester | North West | £363,529 | £340,415 | -£23,114 | -6.4% |
| Solihull | West Midlands | £416,268 | £390,292 | -£25,976 | -6.2% |
| Worcester | West Midlands | £353,701 | £331,977 | -£21,724 | -6.1% |
| Cardiff | Wales | £327,656 | £310,577 | -£17,079 | -5.2% |
| Cheltenham | South West | £433,208 | £411,593 | -£21,616 | -5.0% |
| Brighton | South East | £425,129 | £404,874 | -£20,254 | -4.8% |
| Barnsley | Yorkshire and the Humber | £226,176 | £215,552 | -£10,624 | -4.7% |
| Stockport | North West | £346,943 | £330,654 | -£16,289 | -4.7% |
| Source: 2025 vs 2024, rolling 12-month data to end October each year. Locations only included where Lloyds Banking Group have made a minimum of 150 mortgage offers in the period, all buyers excluding Buy to Let and Shared Ownership. | |||||
| Region | Average home value 2024 | Average home value 2025 | £ Growth in home value | % Growth in home value |
|---|---|---|---|---|
| Northern Ireland | £227,231 | £240,486 | £13,255 | 5.8% |
| Scotland | £248,098 | £257,399 | £9,302 | 3.7% |
| North West | £271,789 | £281,722 | £9,933 | 3.7% |
| Yorkshire and the Humber | £261,355 | £270,856 | £9,501 | 3.6% |
| South West | £351,039 | £360,317 | £9,278 | 2.6% |
| East Midlands | £290,635 | £297,588 | £6,953 | 2.4% |
| Wales | £256,892 | £262,854 | £5,961 | 2.3% |
| East of England | £409,044 | £417,897 | £8,853 | 2.2% |
| West Midlands | £300,784 | £304,640 | £3,856 | 1.3% |
| North East | £222,938 | £224,725 | £1,787 | 0.8% |
| South East | £449,454 | £452,961 | £3,507 | 0.8% |
| London | £574,855 | £574,514 | -£342 | -0.1% |
| UK | £352,124 | £365,110 | £12,986 | 3.7% |
| Source: 2025 vs 2024, rolling 12-month data to end October each year. Regional data shows all Lloyds Banking Group mortgage offers in the region, no minimum sample applied. | ||||
‘If you’re open to exploring, you might find places where your money goes further.
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‘Northern regions and Scotland are still generally more affordable than the south of England, with a huge amount to offer in terms of culture and history, alongside some of the most beautiful parts of the UK countryside.’
Lloyds compared the 12 months to October 2025 with the same months running to October 2024 for its research.
Locations were only included where Lloyds had made a minimum of 150 mortgage offers during the period, excluding buy-to-let and shared ownership.
On a less localised level, Lloyds said that most parts of the UK recorded growth in the value of homes in 2025.
Northern Ireland led the way with growth of 5.8 per cent, although property values fell in London by 0.1 per cent on average.
