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House prices have climbed three times faster than flat values since the start of the pandemic, with cladding concerns and mounting service charges weighing on the popularity of apartments, according to research from Zoopla.
The property portal’s data suggests that UK house prices have risen by 24 per cent over the past five years, compared with just 7 per cent growth for flats. Over the last year alone, flats edged up by 0.5 per cent, while houses advanced by 2.2 per cent. As a result, the average house price now stands at £319,445—1.7 times higher than the average flat price of £191,309—marking the largest price gap for more than three decades.
The “race for space” triggered by lockdowns was a key factor, with many people seeking larger homes and gardens after weeks cooped up indoors. Zoopla also points to the reputational harm suffered by flats amid mounting reports of high service charges, contested ground rents and concerns about building safety—particularly relating to cladding issues. “Flats have become even cheaper compared to houses over the last five years,” said Richard Donnell, executive director at Zoopla. While buyers still favour houses, Donnell believes there is scope for shrewd investors to capitalise on more affordable flats.
Signs of a modest rebound in flat prices in 2024 appear to be encouraging more vendors to test the market. In the opening weeks of 2025, Zoopla recorded a 14 per cent increase in the number of flats listed for sale, compared with a 5 per cent increase for houses.
Yet while flat owners now seem more willing to sell, a significant share stand to make little or no profit. Zoopla found that 15 per cent of flats currently on the market are listed below their previous purchase price, and about 40 per cent are set at less than £20,000 above the last sale.
Donnell said he does not expect house prices to continue outpacing flats indefinitely—particularly once additional stamp duty costs begin in April. A surge of buyers racing to complete deals before the threshold adjustment has pushed the volume of agreed sales up 10 per cent year on year. Once that rush subsides, he predicts relative price growth for houses may level off, potentially allowing more balance to return to the market.
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UK house prices have risen three times faster than flats since 2020

Heathrow has revealed a record 83.9 million passengers passed through its four terminals last year, a 6 per cent increase on the previous period, boosting its pre-tax profits by nearly a third to £917 million in 2024.
The update arrives just weeks after Chancellor Rachel Reeves confirmed government support for a third runway, describing the project as “badly needed” to bolster Britain’s global connectivity.
Thomas Woldbye, Heathrow’s chief executive, pledged that the airport would invest significantly over the next decade to modernise and expand its facilities, calling the new runway “the largest private investment in the UK’s transport network.” He aims to see flights from the third runway by 2035, although regulatory approvals and climate targets remain major hurdles.
Heathrow’s revenue dipped 3.5 per cent to £3.6 billion last year, with underlying earnings (EBITDA) down 8.7 per cent to £2 billion—partly due to airlines benefiting from lower charges set by the Civil Aviation Authority. The airport plans to distribute a £250 million dividend to shareholders for the first time in five years, with recent acquisitions by French company Ardian and Saudi Arabia’s sovereign wealth fund reshaping its ownership structure.
Other key shareholders include sovereign wealth funds from Qatar and China, in addition to large infrastructure funds.
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Heathrow welcomes record passengers as third runway plans take flight

In an effort to ease tensions with the farming sector, Environment Secretary Steve Reed is set to confirm a five-year extension of the UK’s seasonal farm worker scheme.
The announcement, due at the National Farmers’ Union (NFU) conference, follows weeks of discontent sparked by inheritance tax changes in the spring budget.
Under the extended scheme, which was previously scheduled to expire in 2024, an annual quota of 45,000–55,000 visas will remain available to foreign workers for up to six months. This arrangement provides farms with a consistent seasonal workforce, particularly for labour-intensive fruit and vegetable harvesting. The NFU has repeatedly argued that without this scheme, British agriculture would face severe labour shortages, with an estimated £60 million worth of produce wasted in the first half of 2022 due to unpicked crops.
Reed’s announcement comes amid fierce criticism from farmers and industry bodies over the government’s inheritance tax (IHT) overhaul, a measure introduced by Chancellor Rachel Reeves. Critics claim the new rules threaten family-run farms, many of which have relied on long-standing reliefs to pass businesses on through generations. Some tax experts counter that loopholes had to be addressed, but leading figures at the NFU accuse ministers of breaking promises with what they deem a “morally wrong” policy.
Speaking at the NFU conference in central London, Reed will attempt to reassure farmers that the government intends to boost profitability in agriculture. “I will consider my time as secretary of state a failure if I do not improve profitability for farmers,” he is expected to say. “Ensuring farming becomes more profitable is how we make businesses viable for the future—and secure the long-term food security this country needs.”
However, industry leaders, including NFU president Tom Bradshaw and CBI chair Rain Newton-Smith, have warned of the policy’s far-reaching consequences. They say the new IHT rules risk undermining smaller farms struggling to stay afloat, particularly when many are already grappling with soaring input costs, supply chain disruptions and ongoing labour challenges.
Beyond addressing labour shortages, Reed will unveil a £110 million investment into agricultural technology, aimed at developing more advanced, automated methods of harvesting. Although the government hopes that robotics will ultimately reduce reliance on seasonal workers, large-scale deployment remains in its infancy. For now, many growers continue to depend on human pickers, especially for labour-intensive crops that technology cannot yet handle efficiently.
Reed will also announce the creation of a new national biosecurity centre. Focused on tackling animal diseases such as foot-and-mouth and bluetongue, the facility signals the government’s intent to safeguard the UK’s farming sector amid mounting environmental pressures and globalised trade risks.
With this extension of the seasonal worker scheme, the government is betting on a middle-ground approach: mitigating immediate labour shortfalls while paving the way for a more technologically driven farming future. The measure may go some way towards soothing industry frustrations, but whether it can truly mend the fractured relationship between Whitehall and the farming community—especially given the heated inheritance tax debate—remains to be seen.
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UK extends seasonal farm worker scheme for five years as inheritance tax row rumbles on

The British Chambers of Commerce (BCC) has warned that 8 in 10 UK companies will be forced to reconsider their future strategies when the proposed increase in employers’ national insurance contributions takes effect, bringing a “powder keg of costs” for businesses.
In a recent poll, 82 per cent of BCC-member companies said the higher tax burden will prompt them to revisit their operational plans, while 58 per cent expect a negative impact on recruitment and 54 per cent anticipate hiking their prices. More than a third (36 per cent) believe the rise will hold back investment.
Chancellor Rachel Reeves announced in October’s budget that employers’ national insurance contributions will go up by 1.2 percentage points to 15 per cent from April, alongside a reduction in the annual salary threshold at which businesses start paying national insurance, from £9,100 down to £5,000. Ministers forecast these moves will raise £25 billion a year by the end of the decade.
Reeves has defended the measure as “the right choice to make”, insisting that “successful businesses depend on successful schools, healthy businesses depend on a healthy NHS and a strong economy depends on strong public finances”.
However, corporate leaders, especially those in lower-margin sectors such as retail and hospitality, have criticised the rise, citing it as one more cost on top of reforms in workers’ rights and higher minimum wages. In a letter to Reeves in November, more than 70 high-profile retailers—including Tesco, Marks & Spencer, Sainsbury’s, Asda and Next—warned that rising costs would “inevitably” lead to job losses.
The BCC, which operates 51 chambers across the country and surveyed around 1,300 predominantly small businesses (fewer than 250 employees), also revealed that many firms are dissatisfied with the Government’s broader policymaking. Nearly 80 per cent felt that new policy effects are not being properly assessed.
Alex Veitch, the BCC’s director of policy, said the survey points to businesses “sitting on a powder keg of costs”. He noted that most firms “will have to raise prices and reconsider recruitment plans”, a situation he argues could undermine economic growth—a key government priority.
Veitch added that the Government should “pause for thought” over continuing its national insurance strategy for the duration of this parliament, and urged “urgent” business rates reform. He also raised concerns about the planned expansion of employment rights legislation, saying, “Some of the proposals are completely disproportionate to the reality of how businesses are operating.”
Jonathan Reynolds, the business secretary, met with corporate leaders in London this month, acknowledging that the latest budget “asked a great deal of business”. He stressed, however, that these measures are essential to restoring public finances and funding infrastructure improvements, which, in his view, will bolster UK competitiveness in the long term.
Ministers point to major commitments such as backing for a third runway at Heathrow, infrastructure developments in the Oxford-Cambridge corridor, and the launch of the National Wealth Fund as proof that the Government remains focused on spurring growth.
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Most UK businesses to ‘rethink their plans’ as tax rise takes toll

Bybit, a Dubai-based cryptocurrency exchange, has disclosed that hackers stole $1.5 billion (£1.1 billion) worth of digital assets in what may rank as the largest crypto theft in history.
The breach, which targeted the platform’s Ethereum wallet, has raised fresh alarms over security vulnerabilities in a market already grappling with transparency issues.
Ben Zhou, Bybit’s founder, moved quickly to reassure customers that their funds were secure, pledging the exchange would cover any losses—either by dipping into its own reserves or seeking partner loans. “Bybit is solvent even if this hack loss is not recovered,” he stated, insisting user deposits remain fully backed, “1 to 1.”
The attackers reportedly exploited security loopholes to move funds to an unknown digital address. Ethereum, the world’s second most valuable cryptocurrency after Bitcoin, fell 4% in value on Friday to $2,641.41 (£2,090) in response to news of the breach. Bybit holds around $20 billion (£15 billion) in assets under management and says it has reported the incident to the authorities.
If confirmed, the theft would eclipse a $620 million (£490 million) hack in 2022, when cybercriminals stole Ethereum and USD Coin from the Ronin Network. Founded in 2018, Bybit previously received backing from high-profile names including US President Donald Trump and PayPal co-founder Peter Thiel, according to reports.
Despite the staggering figure, Mr Zhou insists that Bybit’s customers will not be left out of pocket. “All of clients’ assets are 1 to 1 backed,” he said on social media. “We can cover the loss.” The company has promised a full refund to those affected, though it remains unclear how it will ultimately raise the $1.5 billion required.
Scrutiny around the cryptocurrency industry has intensified in recent years, especially after Mr Trump’s own foray into digital coins. The former president launched a cryptocurrency called ‘TRUMP’ ahead of his inauguration, but later claimed limited knowledge about digital assets. Meanwhile, Elon Musk—chief executive of Tesla and an adviser to Mr Trump—has been known to talk up Bitcoin and other cryptos, further fuelling volatility.
Notable crypto heists include the collapse of Tokyo-based exchange Mt Gox in 2014, which lost $350 million (£210 million) in a security breach, and a 2019 incident in which Binance suffered a $41 million Bitcoin theft. Industry insiders say such thefts underscore lingering security concerns, undermining efforts to rebuild confidence in digital assets as a serious investment class.
Bybit said it is “working quickly and extensively” to trace the hackers, while seeking closer cooperation with security experts and law enforcement. For now, the firm and its users must contend with a high-profile reminder that even major players are not immune to crypto’s persistent and costly security hazards.
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Bybit suffers £1.1bn crypto heist in largest alleged theft on record

Tesla’s market value has dipped below the $1 trillion mark for the first time since November 2024, after fresh data showed its sales in Europe and the UK fell by almost 50 per cent in January.
The decline stands in stark contrast to a 34 per cent rise in European electric car registrations overall, according to industry group Acea.
Analysts say the slump highlights intensifying competition in the European EV sector, notably from Chinese manufacturer BYD, which bundles certain vehicle features as standard rather than as add-ons. AJ Bell investment director Russ Mould adds that some customers may also be making a “principled stand” against Tesla’s chief, Elon Musk, following his controversial political engagements in both the US and Europe.
Mould points to mounting rivalry—particularly BYD and other Chinese firms—as a key driver behind Tesla’s weaker performance. The impact of Musk’s political statements is also coming under scrutiny, with critics citing his public support for jailed far-right activist Stephen Yaxley-Lennon in the UK (known as Tommy Robinson), praise for Germany’s far-right AfD party, and purported attempts in the US to reduce public funding. Furthermore, Musk’s prior closeness to President Donald Trump—who has repeatedly criticised electric vehicles—has drawn questions about Tesla’s long-term benefits from a Trump administration.
This downturn follows Tesla’s first annual sales decline in over a decade last year, when the EV pioneer faced a slowdown in demand. While it had received a share-price boost post-election on hopes that Musk’s ties to Trump would bolster the brand, analysts now see little upside from that relationship, particularly as Trump pledges to reverse initiatives that encourage the adoption of electric cars. Meanwhile, interest rate uncertainties and potential new tariffs under Trump are adding to market jitters around Tesla’s outlook.
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Tesla shares slip below $1tn valuation as European sales slump by nearly half

Rachel Reeves’s plan to reduce inheritance tax relief for farmers risks hampering growth and destabilising the wider economy, according to Rain Newton-Smith, head of the Confederation of British Industry (CBI).
Addressing the National Farmers’ Union (NFU) on Tuesday, Newton-Smith criticised the Chancellor’s decision to cut Agricultural Property Relief—previously exempting farms from inheritance tax—as a “£500 million raid” that has led to a collapse in industry confidence.
Under the revised policy, scheduled for April, the effective inheritance tax (IHT) charge on farm estates will climb to 20 per cent. The CBI boss argues this puts the “foundational sector” of farming in jeopardy and could threaten Britain’s domestic food security: “Fifty-eight per cent of food consumed in the UK comes from UK farmers,” she noted. “To ensure a resilient economy, we need a strong farming community.”
While Reeves contends the measure is essential to boosting tax revenues, critics point to the disproportionate impact on family-run businesses. Newton-Smith warns thousands of farmers face being forced to sell land or assets to cover these new costs. CBI research estimates that comparable reductions in relief could cost up to 125,900 jobs by 2030 and may ultimately result in a £1.26 billion net loss to the Treasury.
Tom Bradshaw, the NFU president, says he has offered an alternative: levying IHT only if farm assets are sold within seven years of the owner’s death. He contends this approach would protect farmers from incurring punitive taxes on illiquid assets. However, Bradshaw told delegates the Treasury had effectively dismissed the proposal, leaving farmers disillusioned and determined to “fight the family farm tax until ministers do the right thing.”
Environment Secretary Steve Reed is expected to face questions from NFU members at the conference. While he has pledged to make agriculture more profitable, political pressure continues to grow on Reeves ahead of the next Office for Budget Responsibility update. The Chancellor’s new fiscal rules mandate day-to-day spending be covered by tax receipts, leaving little budgetary headroom if this IHT reform proves detrimental to revenues in the longer term.
In the meantime, Newton-Smith insists an urgent dialogue is needed before thousands of farming families are left facing financial strain. “Any plan for growth or industrial strategy will fail if we do not first back our foundational sectors,” she said.
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CBI boss warns Reeves’s farm tax raid could hobble Britain’s economy

McDonald’s UK arm is maintaining its diversity, equity and inclusion (DEI) policies, despite its Chicago-based parent company scaling back such initiatives since Donald Trump returned to the White House.
While the fast-food giant’s US division scrapped targets for minority representation in senior roles, rebranded its diversity department, and abandoned DEI requirements for suppliers, the British business says its own pledges remain intact. These include ensuring 40 per cent of senior leadership roles are held by under-represented groups by 2030 and strengthening “social inclusion” across its supply chains.
The Bakers, Food and Allied Workers Union (BFAWU), which represents UK food workers, had urged McDonald’s to resist following America’s example. The union accused the US business of “regressive” actions in dismantling DEI commitments.
McDonald’s UK move mirrors a similar split at Deloitte, where the British arm insisted it was “committed to diversity goals” even as the US branch announced it would end specific DEI targets and regular diversity reporting.
The discussion around corporate diversity has grown increasingly polarised. Proponents believe it improves company performance by fostering a broader range of talent. Critics, however, accuse businesses of sacrificing meritocracy and point to political and legislative changes in the US. Earlier this year, a Supreme Court ruling tightened restrictions on affirmative action in American universities, prompting some employers to follow suit.
Walmart, John Deere and Harley-Davidson are among those in the US that have significantly wound down their DEI programmes. Mr Trump, who last year listed so-called “woke companies” he claimed he would target, has repeatedly challenged such corporate initiatives.
In Britain, McDonald’s has also faced allegations of bullying and sexual harassment in its outlets, while the global chain has weathered reputational damage in recent years following the sacking of former chief executive Steve Easterbrook in 2019 for an inappropriate relationship with an employee.
The Fawcett Society, a campaign group for women’s rights, warned that “what’s going on in the US is a warning shot across the bow of our economy”, adding that any retreat from DEI would undermine hard-won gains in the workplace.
But objections are not confined to the political right. In a speech this month, Health Secretary Wes Streeting said “some really daft things [are] being done in the name of equality, diversity and inclusion” in the NHS, describing them as “ideological hobby horses” that risk overshadowing genuine efforts to address inequality.
For now, McDonald’s UK is holding firm and has no plans to emulate its US parent’s approach. Whether that stance remains steadfast—amid mounting global pressure to abandon DEI policies—remains to be seen.
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Mcdonald’s keeps DEI on the menu in Britain despite trump’s rollback in the US

Campaigners battling for state pension compensation have issued the Government with a formal ultimatum, warning that they will pursue a judicial review unless ministers rethink their refusal to pay out billions to millions of 1950s-born women.
The Women Against State Pension Inequality (Waspi) group claims 3.6 million women were short-changed because the Government failed to provide adequate warning when it raised the state pension age from 60 to 65, and later to 66. These changes date back to legislation introduced in the 1990s, but many women were not notified until years later, leaving them with little time to adjust retirement plans.
Although Work and Pensions Secretary Liz Kendall apologised for the delays in communicating the changes, she maintained there was no “direct financial loss” and has declined to offer compensation. According to Ms Kendall, awareness of rising pension ages was already significant, so earlier notification would not have altered many women’s retirement decisions. Waspi, however, contends that a lack of timely information led directly to financial hardship.
Last year, the Parliamentary Ombudsman suggested a one-off payment of up to £2,950 to each affected woman, highlighting a 28-month gap in notifying them of the new state pension age. Waspi describes the Government’s stance as an “outrage” and says ministers are effectively “gaslighting” those who had no realistic opportunity to prepare for longer working lives. The campaign group has launched a crowdfunding appeal, hoping to raise £75,000 to fund its legal challenge.
If the courts side with Waspi, analysts estimate the final compensation bill could reach as high as £10.5bn—an amount the Government insists public finances cannot stretch to, particularly amidst ongoing economic pressures. Labour leader Sir Keir Starmer has also ruled out large-scale compensation, citing constraints on the national budget.
Despite political hesitancy, Waspi chair Angela Madden says the group has been left with no alternative but to take legal action. “We will not allow the DWP’s gaslighting of Waspi women to go unchallenged,” she said, adding that they will stand firm until ministers recognise the hardship caused by later-life pension changes.
With a judicial review potentially just weeks away, the row over what many view as a significant maladministration case shows no sign of abating. For the Treasury, any unfavourable court verdict could spark considerable pressure to reopen the issue—and billions in potential liabilities.
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Waspi campaigners threaten legal action as pension compensation row deepens