House Prices!!
The latest house price data was published on 24th May 2023 by HM Land Registry on GOV.UK which provides data up to March 2023. It reveals that average house prices in the UK increased by 4.1% over the year to March 23, down from 5.8% in February and 6.5% in January 2023. The average price of a house now stands at £304k in England, £214k in Wales, £150k in Scotland and £172k in Northern Ireland.
Monthly house prices changes across the UK and Ireland
The UK average house price has fallen for the fourth consecutive month, standing at £285,000 in March 2023, which is £11,000 higher than at the same point last year, but £8,000 below the recent peak in November 2022.
Average house prices across the UK
- England increased by 4.1% over the year to March 2023, with the average house price in England now at £304,000.
- Wales increased by 4.8% over the year to March 2023, with the average house price in Wales now at a record level of £214,000.
- Scotland increased by 3% over the year to March 2023, with the average house price in Scotland now at £185,000.
- Northern Ireland remains the cheapest UK country to purchase a property in, with the average house price at £172,000, having increased by 5% over the year to March 2023.
Regional variation
- The North East continued to have the lowest average house price of all English regions, at £157,000.
- The South West was the region with the highest annual house price growth, with average prices increasing by 5.4% in the year to March 2023.
- The lowest annual growth was in London, where average prices increased by 1.5% over the year to March 2023, down from 2.9% in February 2023.
- Despite seeing the lowest annual growth, with house price inflation at 1.5%, the average house price in London is still the most expensive in the UK at £523,000 in March 2023.
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