Average house prices in England and Wales dropped by 1.4% in April compared to a year earlier, holding steady month-on-month at £359,200, according to the latest e.surv Acadata House Price Index.
The figures show a clear regional divide. While affordability issues continue to hold back southern markets, northern regions are hitting new price highs. In London, prices dropped by 1.7% in April alone, bringing the average to £642,386. On an annual basis, the capital is down 6.9%, making it the biggest drag on national growth.
“Annual price comparisons have improved modestly from a buyer’s perspective, with average prices currently 1.4% lower than a year ago,” said Rob Owens, head of research at e.surv.
“Those looking to buy in London and the South will be in a particularly good position; these areas are the primary drivers of the annual decline and monthly plateau. London experienced a notable monthly decrease of 1.7%, with average prices falling to £642,386.
“Overall, the housing market reflects a two-tier dynamic, with northern regions reaching fresh market highs while southern regions, particularly London, continue to face affordability constraints.”
Regional data supports this split. The North East led growth, with prices up 5.1% year-on-year, followed by the North West at 4.2% and Yorkshire and The Humber at 3.9%. Meanwhile, every part of southern England saw either stagnation or decline, with London’s drop alone accounting for the full 1.4% annual decline when weighted by transaction volumes.
