House prices have risen across the UK, which is good news for Britons looking to sell.
The latest Government House Price Index released today reveals the areas where you will get the most for your property.
On average, UK property values are up 1.8 per cent on this time last year, and up 0.7 per cent between February and March 2024.
Property in Scotland has increased the most month-on-month and values are up 2.3 per cent on last year, to £191,678.
House prices are highest in London
GETTY/PA
Despite having the biggest increase, it is the second most affordable place to buy a property in the UK. London had the biggest drop – with prices down 0.9 per cent – yet the capital has the priciest homes overall.
Regions with highest house prices
London – £499,663
South East – £373,223
East of England – £341,979
South West – £316,262
West Midlands Region – £246,298
East Midlands – £242,223
North West – £216,501
Wales – £213,753
Yorkshire and The Humber – £209,868
Scotland – £191,678
Northern Ireland – £178,499
North East – £158,569
The average property price is £282,776, up from £277,855 in March 2023.
Detached properties will fetch the most and have had the biggest increase in price, jumping from £429,319 to £440,085 during a 12-month period.
Property type worth the most
Detached – £440,085
Semi-detached – £275,684
Terraced – £230,406
Flat or maisonette – £229,813
House prices have increased in the UK
PA
An expert shared how the latest figures are good news for the property market and could show more to come.
Lomond CEO Ed Phillips said: “House prices have continued to creep up on a monthly basis as market confidence has grown.”However, we’ve also seen the first annual rate of growth since June last year, which suggests that the market is very much heading in the right direction.
“So while homebuyers are still facing substantially higher borrowing costs, the outlook for the year ahead remains a positive one, particularly now that inflation has eased and an interest rate cut is on the horizon.”