UK House Price Index (HPI) for March 2017
16 May 2017 10:01 AM
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 |