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- UK house prices rose more than expected in March
UK house prices rose more than expected in March
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Prices in the last three months to March were 2.7% higher than in the same three months a year earlier, edging up from the 1.8% annual growth recorded in February
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The average price in March was £227,871, the highest recorded price
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House prices in the latest quarter (January-March) were -0.1% lower than in the preceding three months (October-December), the second consecutive decline on this measure
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On a monthly basis, prices grew by 1.5% in March this follows a 0.5% rise in February; monthly changes can be volatile • Mortgages in the UK are at their most affordable level in a decade
Russell Galley, Managing Director, Halifax, said: "House prices in the three months to March were largely unchanged compared with the previous quarter. The annual rate of growth continues to be in a narrow range of under 3%; though the average price of £227,871 is a new high. "Activity levels, like house price growth, have softened compared with a year ago. Mortgage approvals are down compared to 12 months ago, whilst home sales have remained flat in the early months of the year".
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