Looking at the individual regions of England, there are clear variations in house price growth. Overall, England recorded a monthly growth of 0.3% and an annual increase of 0.6%. Bringing the average property value to £298,000.
The region that had the most substantial monthly increase was the South East (1.4%), while the worst-performing region month-to-month was Yorkshire and the Humber (-1.4%). The region with the greatest yearly price increase was the North West (3.8%), and the lowest annual price growth was found in London (-3.9%). London is one of two regions that recorded an annual decline, the other being the South East with -0.4%.
Despite the annual price fall, the average house price in London is still significantly higher than the UK average. In April 2024, the average London property price was £502,000.
Further Reading: Get some tips on how to start in property investment with our guides covering need-to-know topics such as the costs of buy-to-let.