House prices were down 0.2% month-on-month after taking account of seasonal factors, with London seeing the weakest growth of all regions in the UK in Q1. The average house price in March was £232,134.
England was the weakest performing home nation in the three months to March 2021, with annual house price growth of 6.4% – a slight slowing compared with last quarter. The North West was the strongest performing region, with prices up 8.2% year-on-year. This is the strongest price growth seen in the region since 2005 and average prices reached a record high of £181,999. There was also a further pick up in price growth in the neighbouring North, which saw a 7.2% annual increase. London was the weakest performing region, with annual price growth softening to 4.8%, from 6.2% in Q4 last year.