The Government Land registry has released its latest House Price Index figures for March 2022.
Here are the headlines:
- The average price of a property in the UK was £278,436
- The annual price change for a property in the UK was 9.8%
- The monthly price change for a property in the UK was 0.3%
The monthly index figure (January 2015 = 100) for the UK was 14
Managing Director at Black & White, Martyn Smith added:
In March, the rising house price ship continued to sail, however the tidal waves of inflation may shake the boat in the months ahead. The supply and demand game continues and the evidence suggests that the UK housing market will remain healthy for the time being.
Figures released by Halifax showed that the average house price reached £286,079, marking the longest run of monthly price increases in six years. House prices were predicted to calm after the end of the stamp duty holiday, but this didn’t materialise, further pointing to the strength of the market and to demand as the biggest driving factor of house price growth.
With predictions of official recession looming, the big question probably is, how much further do things go until this house price ship stops sailing…
Government Land Registry House Price Index – March 2022
|Region / County||1 Month %||3 Month %||6 Month %||12 Month %||24 Month %|
|East of England||1.35%||4.15%||9.58%||11.10%||17.80%
|West Midlands Region||1.54%||1.88%||3.67%||8.18%||14.62%|
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Sources: Index data taken from Government Land Registry House Price Index.