Annual UK home prices increase 4.1 percent in March
Official figures from the latest UK House Price Index for March shows that an annual price increase of 4.1% which takes the average property value in the UK to £215,847. Monthly house prices have fallen by 0.6% since February 2017. The monthly index figure for the UK was 113.2.
In England, the March data shows an annual price increase of 4.4% which takes the average property value to £232,530. Monthly house prices have fallen by 0.6% since February 2017.
Wales shows an annual price increase of 4.3% which takes the average property value to £147,746. Monthly house prices have risen by 1.4% since February 2017.
London shows an annual price increase of 1.5% which takes the average property value to £471,742. Monthly house prices have fallen by 1.5% since February 2017.
The regional data indicates that:
- East Midlands and the East of England experienced the greatest increase in average property price over the last 12 months, each with a movement of 6.7%
- West Midlands experienced the only monthly price growth with an increase of 0.3%
- North East saw the only negative annual price growth with a movement of -0.4%
- London saw the most significant monthly price fall with a movement of -1.5%
UK Property Transaction statistics showed that in March 2017 the total number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above has remained at a similar level for the last 3 months.
Sales during January 2017, the most up-to-date HM Land Registry figures available, show that:
- the number of completed house sales in England fell by 16.6% to 50,790 compared with 60,923 in January 2016
- the number of completed house sales in Wales fell by 2.3% to 2,762 compared with 2,828 in January 2016
- the number of completed house sales in London fell by 26.3% to 5,968 compared with 8,093 in January 2016
- there were 532 repossession sales in England in January 2017
- there were 56 repossession sales in Wales in January 2017
- the lowest number of repossession sales in England and Wales in January 2017 was in the East of England
Average price by property type for London
|Average price by property type (London)||March 2017||March 2016||Difference %|
Source: HM Land Registry