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|
|Northern Ireland (Quarter 1 – 2017)||£124,007||-0.8%||4.3%|
|East of England||£277,127||-0.8%||6.7%|
|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|
|Flat or maisonette||£195,830||£189,180||3.5%|