UK House Price Growth Slows to 9.0% in March

Source: Office for National Statistics

House prices in the United Kingdom continued to post an annual increase in March, albeit at a slower pace, the latest data released by the HM land Registry showed. IUKP is up 0.49%, while EWU is down 1.11% premarket.

• Average house prices recorded a 9.8% growth in March, reflecting a slower growth from the 11.3% recorded in the previous month.
• The average house price was recorded at £278,000 during the month, up by £24,000 from the same month last year and unchanged from February.
• The average house price in England stood at a record of £298,000 during the month, reflecting a growth of 9.9% versus March 2021, lower than 11.0% in February.
• Wales recorded an average price of £206,000, up 11.7% year on year but down 14.5% from the previous month.
• The average price in Northern Ireland was £165,000, up 10.4% year on year. This is the country with the lowest average house in the UK.