The latest UK House Price Index shows an annual price increase of 4.1% which takes the average property value to £215,847.
However, when viewed on a monthly basis, house prices have fallen by 0.6% since February 2017 when the average price of a UK property was £217,502 (an annual price change of 5.8%).
March data indicates an annual price rise of 4.4% in England, with Wales’s prices up 4.3% and London showing the smallest increase, just 1.5%.
In terms of regional data, the East of England and East Midlands showed the greatest yearly increase in average prices, going up 6.7%.
The only monthly price increase was in the West Midlands (0.3%) while the only area where prices dropped in the last year is the North East of England (a drop of -0.4%).
If you need any residential property assistance please contact our team in either Bicester (01869 252 244) or Oxford (01865 244 661).