Property prices in the north-west up 2.3% in April

Property prices in the north-west up 2.3% in April

Between March and April property in the north-west of England experienced the biggest price increase in the UK.

Summary:

  • Property in the north-west of England saw prices increase by 2.3% in April, the most in the UK
  • Prices rose in all parts of the UK over the last 12 months, with the average UK property value at £209,054
  • Terraced homes showed the largest increase in prices, climbing by 10%

The north-west of England showed the highest increase in property prices, climbing 2.3% since March, to take the average price in the region to £145,149.

In comparison, prices in London rose by 0.6% over the month.

Over the past year house prices rose in all parts of the UK. Prices climbed 8.2% in the year to April, taking the average UK property value to £209,054, according to the new UK House Price Index.

Between April and March, prices fell in the north-east, Wales and the south-west, slipping 0.9%, 1.9% and 2.8% respectively.

The new index comprises figures collated by the Office for National Statistics from data supplied by Land Registry, Register of Scotland, Land and Property Services, Northern Ireland and the Valuation Office Agency.

Lindsay Judge, Senior Policy Analyst at Resolution Foundation, said: “Despite the turbulent political background, house prices continue to rise sharply.

“Hopes that the house price hare would slow down and allow tortoise-paced income growth to catch up are not showing up in this data.”

Terraced homes showed the largest annual increase in values, climbing 10% to reach an average price of £183,666.

Semi-detached homes climbed 9.7% to £209,075, while the price of flats and maisonettes rose 9.3% to reach £210,281.

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