National property market overview

On average, as usual, London saw the biggest increase as a whole, with 11.3% rise in prices over the year, while prices have fallen 4% in the North East in the same time.

Activity is down though, with 53,168 sales in January which is 18% less than January 2014, and that’s continuing a trend we’ve seen for the previous few months as things have all just calmed down a bit.

Nationwide’s House Price Index, which is more up to date (but less reliable) has just reported a 1% increase between March and April, so if anything has been lost it looks like it is quickly rebounding.

Matthew Pointon, property economist at Capital Economics, said that despite “a not insignificant fall” in March, the Land Registry figures showed prices were higher in the first quarter of the year than in the previous quarter.

“Overall, therefore, the Land Registry figures are broadly in line with other measures of house prices showing a steady rise since the start of the year,” he said.

"Record high employment, combined with record low mortgage rates, means the conditions are in place for further price gains this year," he added. They predicted that prices would rise by 6% this year.

As always, if you’re interested in buying or selling a property then we’d love to see how we can help. Get in touch with our local office on the number below or just drop an email.