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UK Property Market Update: House Prices Continue to Rise

A current overview of the UK property market, which continues to see house prices increase in most regions over the previous 12 months.

March Price Update

RegionMar. Av. priceMonthly change12 month
England£274,615+1.7%+10.2%
London£500,310+1%+3.4%
City of Westminster£927,993-8.9%-8.1%
Kensington and Chelsea£1,332,134+7.9%-0.4%
Land registry data (UK HPI)
  • England house prices grew by 10.2% in the year to March 2021, up from 9.4% in February 2021.  
  • Yorkshire and The Humber was the fastest-growing region with annual growth of 14.0% in the year to March 2021. 
  • In London, average house prices increased by 3.7% in the year to March 2021, down from an increase of 4.4% in February 2021.
  • Comparing the provisional volume estimate for January 2020 with the provisional estimate for January 2021, volume transactions increased by 5.7% in England.
  • Across England, terraced houses showed the biggest increase out of all property types, growing by 12.1% in the year to March 2021 to £226,000. 
  • In March 2021, the most expensive borough to purchase a property was Kensington and Chelsea, where the average cost was £1.3 million. 
  • In contrast, the cheapest area to purchase a property was Burnley, where the average cost was £94,000.

If you would like to discuss any of the matters covered in this article, please contact Burlingtons Real Estate‘s Nicholas Portelli or write to us.

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