The average UK house price fell by 0.6% in March compared to February 2017, according to new figures.

The UK House Price Index data for March reveals despite the month-on-month dip annual prices increased 4.4%, taking the overall average UK property value to £232,530.

East Midlands and the East of England experienced the greatest increase in average property price over the last 12 months, each with a movement of 6.7%. The North East saw the only negative annual price growth, declining by 0.4%.


In London, prices rose 1.5% to take the average property value to £471,742. However, montly prices have fallen since February (-1.5%).

In Scotland, monthly figures fell by 1% taking the average price to £137,139. However, annually prices rose by 0.7%. The largest year-on-year rise was experienced in the Orkney Islands, increasing by 15.3% between March 2016 - March 2017 from £124,701 to £143,751. However, Aberdeen experienced the largest fall (-6.3%), wit prices declining from £173,942 in 2016 to £163,050 this year.

(LM)