House price growth slows in March
Abstract
The latest house price data published by HM Land Registry for March 2022 has shown that average house prices in the UK increased by 9.8% in the year to March 2022, down from 11.3% in the year to February 2022. March 2022 saw UK house price growth slow to 9.8% Annual house price rates of change for all dwellings, UK, January 2006 to March 2022 Because of the impact of COVID-19 on both the number and supply of housing transactions, we might see larger revisions to the published UK House Price Index estimates than usual. The latter half of 2020 saw the UK's average house price growth accelerating. As the tax breaks were originally due to conclude at the end of March 2021, it is likely that March's average house prices were slightly inflated as buyers rushed to ensure their house purchases were scheduled to complete ahead of this deadline. An increase in prices since then has resulted in a record average house price level in the UK of £278,000 in March 2022. Figure 2: Average UK house price increased to £278,000 in March 2022 Average house price, UK, January 2005 to March 2022 The average UK house price was £278,000 in March 2022; this is £24,000 higher than in March 2021. Figure 3: England house prices remain the highest in the UK Average house price by country, UK: January 2005 to March 2022 Figure 4: London remains the region with the lowest annual house price growth All dwellings annual house price rates of change, by English region, year to March 2022..
