Regional trends in house price growth

Annual price growth in the year to March continues to outperform in regions where homes are more affordable, with values growing at an annual pace of 5.9% in Wales, 5.3% in Yorkshire and the Humber and 5.2% in the North West of England. 

London, which has the highest average prices for homes of any region is lagging, with 2% growth over the year.

At a city level, Manchester and Liverpool retain their spots at the top of the price charts, with 6.5% and 6.3% annual growth respectively. 

At the other end of the scale for major cities, Aberdeen prices are down -1.7% on the year, although this is a more modest decline than the -3.1% seen in March last year. Oxford and Cambridge, two of the markets with highest value housing, are registering relatively muted growth of 1.6% and 2%.