Data Watch: April 2018

Take a look at all the stats and figures from April 2018.

 

Nationwide House Price Index

According to Nationwide, the UK average house price in March 2018 was £211,625. This is up 2.1% year-on-year and 0.6% on February 2018.

  • In Q1-2018, the average house price was £211,792, up 2.5% on Q1-2017.
  • The average London house price was £473,776, down -1.05% from Q1-2017.
  • The West Midlands experienced the strongest regional growth in England, up 4.9% to £184,727. Northern Ireland (up 7.9%) experienced the strongest UK regional growth to £137,965.

 

RICS UK Residential Market Survey

At the national level, all activity indicators for the current market, including enquiries, sales and instructions remain negative or flat.

  • At 0% the national price balance (the number of respondents reporting a rise in prices) is the joint lowest reading for this indicator in 5 years.
  • The regional breakdown points to London and the South East as the weakest markets, with more robust conditions across the rest of the country.
  • New instructions and sales have fallen, although a small majority of contributors anticipate sales to increase in the next 12 months.

 

ONS Employment and Wage Statistics

According to the latest data from the ONS, the average weekly pay is £483.

  • This is up 2.8% year-on-year.
  • This is the strongest year-on-year growth since April 2017.
  • Wage growth is now above inflation for the first time in a year.

 

Land Registry House Price Index

According to latest Land Registry data (February 2018), the average UK house price is £225,000, up 4.4% year-on-year.

  • The average London house price is £471,000, down 0.99% year-on-year.
  • Outer London (1.9%) outperformed Inner London (-1.1%)
  • Redbridge (8.9%) had the strongest growth of all London boroughs.
  • Regionally, the West Midlands showed the highest growth at 7.3%