Land Registry
The March data shows:
-
on average, house prices haverisen 0.7%sinceFebruary 2024
-
there has been an annual pricerise of 1.8%which makes the average property in the UK valued at283,000
England
In England the March data shows, on average, house prices haverisen by0.5%sinceFebruary 2024.The annual pricerise of 1%takes the average property value to299,000.
The regional data for England indicates that:
- Yorkshire and the Humberexperienced the most significant monthly increase with a movement of 2.2%
- Londonsaw the greatest monthly price fall, with a fall of -0.9%
- Yorkshire and the Humber experienced the greatest annual price rise, up by 5%
- London saw the lowest annual price growth, with a fall of -3.4%
Price change by region for England
| Region | Average priceMar 2024 | Annual change % sinceMar 2023 | Monthly change % sinceFeb2023 |
|---|---|---|---|
| East Midlands | 242,000 | 1.0 | 0.3 |
| East of England | 342,000 | 0.8 | 0.5 |
| London | 500,000 | -3.4 | -0.9 |
| North East | 159,000 | 3.2 | -0.4 |
| North West | 217,000 | 3.8 | 1.1 |
| South East | 373,000 | -1.3 | 0.3 |
| South West | 316,000 | 0.5 | 0.2 |
| West Midlands | 246,000 | 2.4 | 1.4 |
| Yorkshire and the Humber | 210,000 | 5.0 | 2.2 |
Repossession sales by volume for England
The lowest number of repossession sales in January 2024was in theEast of England.
The highest number of repossession sales inJanuary 2024was in the South East.
| Repossession sales | Jan2024 |
|---|---|
| East Midlands | 5 |
| East of England | 0 |
| London | 10 |
| North East | 10 |
| North West | 10 |
| South East | 14 |
| South West | 12 |
| West Midlands | 3 |
| Yorkshire and the Humber | 9 |
| England | 73 |
Average price by property type for England
| Property type | Mar2024 | Mar2023 | Difference % |
|---|---|---|---|
| Detached | 465,000 | 457,000 | 1.8 |
| Semi-detached | 290,000 | 284,000 | 1.9 |
| Terraced | 244,000 | 243,000 | 0.7 |
| Flat/maisonette | 247,000 | 249,000 | -0.8 |
| All | 299,000 | 296,000 | 1.0 |
Funding and buyer status for England
| Transaction type | Average price Mar2024 | Annual price change % sinceMar2023 | Monthly price change %sinceFeb2024 |
|---|---|---|---|
| Cash | 281,000 | 0.8 | 0.6 |
| Mortgage | 309,000 | 1.1 | 0.5 |
| First-time buyer | 250,000 | 1.1 | 0.5 |
| Former owner occupier | 341,000 | 0.9 | 0.6 |
Building status for England
| Building status* | Average price | ||
|---|---|---|---|
| Dec 2023 | Annual price change % since Dec 2022 | Monthly price change % since Nov 2023 | |
| New build | 412,000 | 16.1 | 6 |
| Existing resold property | 294,000 | -2.4 | -0.4 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices fellby 0.9% sinceFebruary 2024. An annual pricefall of 3.4%takes the average property value to500,000.
Average price by property type for London
| Property type | Mar 2024 | Mar 2023 | Difference % |
|---|---|---|---|
| Detached | 1,005,000 | 1,045,000 | -3.9 |
| Semi-detached | 649,000 | 669,000 | -3.4 |
| Terraced | 540,000 | 558,000 | -3.2 |
| Flat/maisonette | 417,000 | 433,000 | -3.7 |
| All | 500,000 | 517,000 | -3.4 |
Funding and buyer status for London
| Transaction type | Average price Mar 2024 | Annual price change % sinceMar 2023 | Monthly price change %sinceFeb 2024 |
|---|---|---|---|
| Cash | 510,000 | -5.3 | -1.3 |
| Mortgage | 496,000 | -3 | -0.8 |
| First-time buyer | 433,000 | -3.1 | -0.7 |
| Former owner occupier | 570,000 | -4.0 | -1.3 |
Building status for London
| Building status* | Average price | ||
|---|---|---|---|
| Jan 2024 | Annual price change % since Jan2023 | Monthly price change % since Dec 2023 | |
| New build | 564,000 | 8.7 | 4.7 |
| Existing resold property | 514,000 | -5.2 | -0.9 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Wales
Wales shows, on average, house prices roseby 0.9%sinceFebruary 2024. An annual priceincrease of 1.3%takes the average property value to214,000
There were 6 repossession sales for Wales in January 2024.
Average price by property type for Wales
| Property type | Mar 2024 | Mar 2023 | Difference % |
|---|---|---|---|
| Detached | 323,000 | 319,000 | 1.5 |
| Semi-detached | 209,000 | 206,000 | 1.5 |