UK property prices fluctuating by region

The latest recently released UK House Price Index shows that average property prices rose by 1.4 per cent between March and April.

According to the HM Land Registry data, the average price of a property in the UK is now £228,903.

In England alone, the April data shows that, on average, property prices have risen by 0.7 per cent since March, and 1.1 per cent since the same month last year. This takes the average property value in England to £245,128.

The North East region experienced the greatest monthly price rise, up by 5 per cent, while on a 12-month basis, the East Midlands saw the greatest price increase (2.9 per cent). London saw the largest annual price fall, with property values down by 1.2 per cent.

In Wales, the growth was much stronger, with house prices rising by 2.4 per cent between March and April, and by 6.7 per cent over the last year. The average property value in Wales currently stands at £163,902.

In Scotland, the monthly price change was a rather more modest 0.7 per cent, taking the average price rise over the last year to 1.6 per cent. The average house price in Scotland is £150,825.

There is no recent specific data for Northern Ireland, as the Northern Ireland House Price Index is produced quarterly.

Article published 21st June 2019