Land Registry Data: North West Market Top for Property Price Growth | RWinvest Skip to content

Land Registry Data: North West Market Has Highest Property Price Growth

Don't miss out on the best new investment deals. Enter your details now to sign up to our mailing list and receive exclusive information straight to your inbox.

    Government Figures Reveal UK House Prices Up 1.1% Year-on-Year

    The latest Land Registry figures have revealed that house prices are still rising.

    The latest House Price Index published this month covers data for April 2024 and is based on completed housing transactions. The report states that house prices in April increased 0.3% on average compared to the previous month.

    A yearly increase of 1.1% was recorded, bringing the average UK property price to £281,000 (seasonally adjusted). This is up on the 0.9% increase seen in March.

    Learn More: Explore the different types of buy-to-let investments with our guides covering various buy-to-let properties for sale.

    Looking for a Stress-Free Investment?

    Secure a 2-bed townhouse for just £35,495, with nothing to pay until next year!

    View of Manchester

    North West Leads the Way for Annual Price Growth

    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.

    Get Your FREE Liverpool Investment Guide

    Everything you need to know about investing in Liverpool, one of the UK’s hottest investment cities.

      Transaction Levels Higher Than Last Year

      Property transaction statistics show that April 2024 was busier than the same time last year. According to the UK House Price Index, the estimated number of residential property transactions valued at £40,000 or over was 90,000 on a seasonally adjusted basis.

      This translates to a 9.8% increase year-on-year, and the monthly change was 4.6% in percentage terms.

      Zoopla’s latest house price index states that sales volumes are starting to recover back to their long-run average. The number of homes for sale has also increased faster than the agreed sales rate, meaning more choices for buyers.

      To learn more about the UK property market, take a look at our dedicated buy-to-let area guides, exploring topics such as investment property in Wembley and investment property available in Canary Wharf.

      Land Registry Data: North West Market Has Highest Property Price Growth

      Disclaimer Image
      Avatar photo
      Author

      Jessica Ferris

      LinkedIn Logo Muck Rack Logo

      Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

      UK