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House price growth dips to 9.8% in March

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Average UK house prices increased by 9.8% over the year to March 2022, down from 11.3% in February, according to the latest UK House Price Index from the ONS and Land Registry. The average UK house price was £278,000 in March, which is £24,000 higher than this time last year.

Average house prices increased over the year by 9.9% in England, 11.7% in Wales, 8.0% in Scotland, and 10.4% in Northern Ireland.

The East Midlands was the region with the highest annual house price growth, with average prices increasing by 12.4% in the year to March. This was up from a growth rate of 11.6% in February 2022.

The lowest annual house price growth was in London, where average prices increased by 4.8% over the year to March, down from 7.8% in February.

Posted by MMB Finance Swindon on 19 May 2022