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Average house prices fall in all but one English region

Date online: 24/05/2018

Average property prices fell in all but one English region during March, according to the latest official UK House Price Index.

Overall, the national average price fell by 0.2% between February and March - meaning the typical UK home is valued at £224,144.

National annual growth remains steady at 4.2%, the index shows.

However, on an annual basis London continues to perform poorly, recording growth of -0.7%. Scotland (6.7%) and the East of England (5.8%) are the top performers when it comes to annual growth.

Regionally, the East of England was the only area in the country to record a monthly price rise (1%), while the most significant monthly drop was recorded in the North East (-1.5%).

The highest regional average price remains in the capital at £471,944, while the lowest is also in the North East at £124,381.

In Wales, the average property price was £152,999 in March, representing -0.1% monthly growth and an annual price rise of 3.5%.

Between March 2017 and the same month this year, the average cost of a Detached house has increased by 5.1% (£367,859), while semi-detached (£223,241) and terraced homes (£194,099) both recorded year-on-year growth of 4.5%.

Flats and maisonettes now average at £223,619 - 1.1% higher than in March last year.

Taken from

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