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

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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