HM Land Registry
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UK House Price Index (HPI) for March 2017
The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland.
The March data shows an annual price increase of 4.1% which takes the average property value in the UK to £215,847. Monthly house prices have fallen by 0.6% since February 2017. The monthly index figure for the UK was 113.2.
In England, the March data shows an annual price increase of 4.4% which takes the average property value to £232,530. Monthly house prices have fallen by 0.6% since February 2017.
Wales shows an annual price increase of 4.3% which takes the average property value to £147,746. Monthly house prices have risen by 1.4% since February 2017.
London shows an annual price increase of 1.5% which takes the average property value to £471,742. Monthly house prices have fallen by 1.5% since February 2017.
The regional data indicates that:
- East Midlands and the East of England experienced the greatest increase in average property price over the last 12 months, each with a movement of 6.7%
- West Midlands experienced the only monthly price growth with an increase of 0.3%
- North East saw the only negative annual price growth with a movement of -0.4%
- London saw the most significant monthly price fall with a movement of -1.5%
UK Property Transaction statistics showed that in March 2017 the total number of seasonally adjusted property transactions completed in the UK with value of £40,000 or above has remained at a similar level for the last 3 months. See the economic statement.
Sales during January 2017, the most up-to-date HM Land Registry figures available, show that:
- the number of completed house sales in England fell by 16.6% to 50,790 compared with 60,923 in January 2016
- the number of completed house sales in Wales fell by 2.3% to 2,762 compared with 2,828 in January 2016
- the number of completed house sales in London fell by 26.3% to 5,968 compared with 8,093 in January 2016
- there were 532 repossession sales in England in January 2017
- there were 56 repossession sales in Wales in January 2017
- the lowest number of repossession sales in England and Wales in January 2017 was in the East of England
Access the full March UK HPI .
Price change by region for England
| Region | Monthly change % since February 2017 | Annual change % since March 2016 | Average price March 2017 |
|---|---|---|---|
| East Midlands | -0.2 | 6.7 | £176,213 |
| East of England | -0.8 | 6.7 | £277,127 |
| London | -1.5 | 1.5 | £471,742 |
| North East | -1.3 | -0.4 | £122,298 |
| North West | -0.6 | 6.2 | £150,250 |
| South East | -0.5 | 3.8 | £311,514 |
| South West | -0.7 | 2.8 | £240,222 |
| West Midlands | 0.3 | 6.5 | £180,293 |
| Yorkshire and The Humber | -0.6 | 4.0 | £149,606 |
Average price by property type for England
| Average price by property type (England) | March 2017 | March 2016 | Difference % |
|---|---|---|---|
| Detached | £349,524 | £335,972 | 4.0 |
| Semi-detached | £215,584 | £204,332 | 5.5 |
| Terraced | £186,784 | £179,607 | 4.0 |
| Flat/maisonette | £220,648 | £211,891 | 4.1 |
| All | £232,530 | £222,663 | 4.4 |
Price change for Wales
| Wales | Monthly change % since February 2017 | Annual change % since March 2016 | Average price March 2017 |
|---|---|---|---|
| Wales | 1.4 | 4.3 | £147,746 |
Average price by property type for Wales
| Average price by property type (Wales) | March 2017 | March 2016 | Difference % |
|---|---|---|---|
| Detached | £219,943 | £213,809 | 2.9 |
| Semi-detached | £142,584 | £135,451 | 5.3 |
| Terraced | £114,798 | £109,711 | 4.6 |
| Flat/maisonette | £108,864 | £103,462 | 5.2 |
| All | £147,746 | £141,617 | 4.3 |
Average price by property type for London
| Average price by property type (London) | March 2017 | March 2016 | Difference % |
|---|---|---|---|
| Detached | £897,726 | £873,391 | 2.8 |
| Semi-detached | £571,620 | £549,954 | 3.9 |
| Terraced | £482,549 | £477,329 | 1.1 |
| Flat/maisonette | £417,015 | £412,842 | 1.0 |
| All | £471,742 | £464,647 | 1.5 |
Sales volumes for England
| Month | Sales 2017 England | Sales 2016 England | Difference % |
|---|---|---|---|
| December | 65,064 | 80,367 | -19.0 |
| January | 50,790 | 60,923 | -16.6 |
Sales volumes for Wales
| Month | Sales 2017 Wales | Sales 2016 Wales | Difference % |
|---|---|---|---|
| December | 3,845 | 4,129 | -6.9 |
| January | 2,762 | 2,828 | -2.3 |
Sales volumes for London
| Month | Sales 2017 London | Sales 2016 London | Difference % |
|---|---|---|---|
| December | 6,665 | 9,700 | -31.3 |
| January | 5,968 | 8,093 | -26.3 |
Funding, buyer and building status for England
| Transaction Type | Monthly price change % since February 2017 | Annual price change % since March 2016 | Average price March 2017 |
|---|---|---|---|
| Cash | -0.6 | 4.3 | £219,058 |
| Mortgage | -0.6 | 4.5 | £239,316 |
| First time buyer | -0.5 | 4.7 | £195,698 |
| Former owner occupier | -0.7 | 4.2 | £263,180 |
| New build | -7.0 | 10.9 | £285,112 |
| Existing resold property | -0.2 | 3.9 | £228,952 |
Funding, buyer and building status for Wales
| Transaction Type | Monthly price change % since February 2017 | Annual price change % since March 2016 | Average price March 2017 |
|---|---|---|---|
| Cash | 1.0 | 3.5 | £143,766 |
| Mortgage | 1.5 | 4.8 | £150,107 |
| First time buyer | 2.0 | 4.7 | £128,177 |
| Former owner occupier | 0.6 | 3.9 | £170,406 |
| New build | -4.4 | 13.0 | £194,043 |
| Existing resold property | 1.6 | 3.7 | £144,983 |
Funding, buyer and building status for London
| Transaction Type | Monthly price change % since February 2017 | Annual price change % since March 2016 | Average price March 2017 |
|---|---|---|---|
| Cash | -2.0 | 1.8 | £498,925 |
| Mortgage | -1.4 | 1.5 | £463,424 |
| First time buyer | -1.6 | 1.5 | £412,818 |
| Former owner occupier | -1.5 | 1.5 | £531,889 |
| New build | -8.5 | 7.0 | £477,877 |
