House prices in the UK rose 10.2% in the year to March 2021, the highest annual growth rate seen since August 2007.
However, the figures from the Office for National Statistics come with the caveat that less transaction data is available for March, meaning there may be ‘increased volatility’ in the estimates.
The estimated average house price in England was £275,000 in March, up 10.2% in a year; £185,000 in Wales, up 11%; up 6% in Scotland to £166,566; and £149,000 in Northern Ireland, an increase of 6%.
London was the region with the lowest growth for the fourth consecutive month, at 3.7%.
House price growth was strongest in Yorkshire and The Humber where prices increased by 14% in the year to March 2021.
Detached houses saw the highest price increase, up 11.7% to an average of £395,202, while flats saw the least increase, rising 5% to £214,365.