In the year to end March 2017 new build house prices rose on average by 5.7% across the UK which is down on last year’s figure of 7.0%.
Looking at the big picture (and after a periodic recalibration of the index), Greater London has seen its third month of decline, during which time it has seen a fall of 2% in its year on year growth rate.
In contrast the North is continuing to see a steady uplift in its year on year growth rate which now stands at 3.5%, up from 2.4% in the same month last year. Although price rises are not as dramatic as in previous cycles, it is a clear sign of a healthy market where demand is gently outstripping supply.
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