The UK’s average property price fell by 0.6% in March – UK HPI

House prices in the South Hams in Devon have fallen by 7.7% in the last year

The average property price across the UK dropped by 0.6% in March, according to the latest UK HPI from the Land Registry and Office for National Statistics, leaving annual house price inflation at +4.1% (down from 5.6% in the year to February 2017).

March’s price decline continues the general slowdown in the annual growth rate seen since mid-2016. The average UK house price was £216,000 in March 2017; that’s about £9,000 higher than in March 2016, but £1,000 lower than the previous month.

The East of England and the East Midlands both showed the highest annual growth, with prices increasing by 6.7% in the year to March 2017. This was followed by the West Midlands at 6.5%. The lowest annual growth was in the North East, where prices decreased by 0.4% over the year, followed by London at 1.5%.

The lowest annual growth of any Local Authority was recorded in the prime enclave of the South Hams in Devon, where prices fell by 7.7% to stand at £281,000. The Orkney Islands, at the other end of the country, topped the LA price charts, posting +15.3% annual price growth.

  • Annual house price rates of change, UK all dwellings from January 2006 to March 2017

  • Average UK house price, January 2005 to March 2017

  • Average house price, by UK country, January 2005 to March 2017

  • Average house price, by English region, January 2004 to March 2017

  • All dwellings annual house price rates of change, year to March 2017, by English region

  • Price, monthly change and annual change by country and government office region
Country and government office region Price Monthly change Annual change
England £232,530 -0.6% 4.4%
Northern Ireland (Quarter 1 – 2017) £124,007 -0.8% 4.3%
Scotland £137,139 -1.0% 0.7%
Wales £147,746 1.4% 4.3%
East Midlands £176,213 -0.2% 6.7%
East of England £277,127 -0.8% 6.7%
London £471,742 -1.5% 1.5%
North East £122,298 -1.3% -0.4%
North West £150,250 -0.6% 6.2%
South East £311,514 -0.5% 3.8%
South West £240,222 -0.7% 2.8%
West Midlands Region £180,293 0.3% 6.5%
Yorkshire and The Humber £149,606 -0.6% 4.0%
  • Average monthly price by property type
Property type March 2017 March 2016 Difference
Detached £324,927 £313,564 3.6%
Semi-detached £203,177 £192,884 5.3%
Terraced £174,036 £167,656 3.8%
Flat or maisonette £195,830 £189,180 3.5%
All £215,847 £207,333 4.1%