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 %
Detached £897,726 £873,391 2.8
Semi-detached £571,620 £549,954 3.9
Terraced £482,549 £477,329 1.1
Flat/maisonette £417,015 £412,842 1.0
All £471,742 £464,647 1.5

Source: HM Land Registry

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