UK house prices jumped 0.7% between March and AprilJuly 31st 2019
By Elizabeth Crouch Head of Residential Conveyancing
The latest House Price Index figures show that the cost of an average home in the UK jumped 0.7% between March and April.
The annual rise to April was 1.4%, bringing the cost of the average property to £228,903.
In England, the annual rise was 1.1%, with the average property costing £245,128. The regional data for England shows that:
- the North East experienced the greatest monthly price rise, up by 5%
- the West Midlands saw the most significant monthly price fall, down by 0.2%
- the East Midlands experienced the greatest annual price rise, up by 2.9%
- London saw the largest annual price fall, down by 1.2%.
The average house price paid by first-time buyers was £205,022 in April 2019, which is an annual rise of 0.6%.
In London, on average, house prices rose by 2.4% between March and April. However, there was an annual price fall of 1.2% in the capital, taking the average property value to £471,504.
In England, the average price for a detached house in April 2019 was £374,995. Semi-detached houses had an average price of £229, 599, and terraced houses averaged £199,363.
The figures for new-build homes are compiled up to February 2019, with the average price being £309,985, which represents a 0.2% annual fall.
If you would like more information on the above article or if you would like more information about the legal aspects of buying or selling a home, please contact Elizabeth on 01697 72378 or click here to email Elizabeth direct.