Wales is still the region with the highest average house price increase across the UK, according to the house price index released by the Office of National Statistics (ONS) covering the year-on-year comparison to March 2022.
The data indicates that although the average house price in Wales has increased by 11.7% to the record high of £206,395, this figure is only a 0.4% increase since February, potentially suggesting the beginning of a slowing down of rampant house price increases seen since the Covid-19 pandemic.
The UK average house price increased by 9.8% over the year to March 2022, which is down from the 11.3% figure reported for February 2022. The average UK house asking price was £278,000 in March 2022, which is still £24,000 higher than for the same time in 2021.
