Average prices in the UK increased by 1.4% in the year to March 2019, official HM Land Registry data shows @PropertyWire #houseprices #uk #property.

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*For 2019, the most recent inflation monthly data (12-month based) is displayed in the chart. Table: Annual Inflation Rates by Month and Year. Since figures below are 12-month periods, look to the December column to find inflation rates by calendar year.

The March data shows: on average, house prices have fallen by 0.2% since February 2019. there has been an annual price rise of 1.4%, which makes the average property in the UK valued at 226,798

Year-on-year, prices across the country went up by an average of 2.1% in March, compared to 1.5% in February. By region, after Wales , the biggest annual house price increase was seen in the West Midlands , which registered a 5.1% rise to 219,941, followed by the north-west at 4.7%, bringing the average property price there up to 189,900.

House price growth in the UK was 4.7% in the 12 months to the end of May 2017, taking the average value of a home to £220,713, the latest official data shows. 4.3% in the year to the end of March.

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Assuming the UK avoids a disruptive No Deal Brexit, the average value of a house in Scotland is expected to grow 1.7% in 2019, increasing to 2.4% in 2020 and a further 4.7% through 2021 and 2022. This means the average house price in Scotland will increase from 149,000 today to 170,000 by 2022.

The data also shows that the rise in asking prices has mostly been fuelled by the South. However, in recent months the rise in property prices appears to have spread to the whole of the UK. Over the whole of the UK the average asking price increased by approximately 3.55% annually and 2.19% in the second quarter of this year.

March 2019 Price indices source: knight frank research. The red dotted line shows 10-year average annual growth in Prime Central London. See the data table on page 9 for a full breakdown of annual, six monthly and quarterly price changes. 3 Spread of UK house price growth source.

Annual UK price growth in the year to April 2019 was 1.4%, official data shows House prices in the UK increased by an average of 1.4% in the 12 months to April 2019 and were up 0.7% month on month to 228,903, the latest official figures show.

Categories: Mortgage News