Average house price now sits at more than £300,000
- Average house price now sits at more than £300,000 – a 3.3% increase over the year to March 2017
- Transactions increase by 26% over the month
In the latest house price index from Acadata and LSL Property Services plc, parent company of Reeds Rains, it is reported that the average house price rose to £301,278 in March, up 0.5% month-on-month and 3.3% annually.
Added to this the number of housing transactions in March 2017 is estimated to have been 78,500 – a notable 26% uplift in sales compared to February and, although high, is in line with the average seasonal increase that takes place in March of most years.
Oliver Blake, Managing Director of Reeds Rains commented:
“In England and Wales, house price inflation continues but at a relatively low, though still positive, level. The average annual rate of house price inflation was 3.3% in March, slightly up from the revised 3.1% seen in February. From May 2016 onward, there has been a relatively gentle and almost straight-line increase in house prices, despite the Brexit referendum in June 2016.”