House Price Index: March 2009

Statistics on Average House Prices and Annual House Price Inflation include data for the United Kingdom and its Government Office Regions for the period March 2009. The latest release updates the statistics previously released on 15 April 2009.

The House Price Index (HPI) is calculated by the Department for Communities and Local Government, as a monthly series of changes in house prices since February 2002 across the different regions of the UK (including Wales). The data are experimental and are not currently seasonally adjusted - month-on-month comparisons should therefore be treated with caution.

House price figures for January and February 2009 have been revised from those published previously.

The key points from the latest release are:

• Over the year to March 2009, the HPI in Wales decreased by 13.0 per cent, compared with an annual decrease to February 2009 of 11.9 per cent.
• Across the UK as a whole, the HPI decreased by 13.6 per cent over the year to March 2009, compared with an annual decrease to February 2009 of 12.3 per cent.
• Comparing March 2009 with February 2009 (not seasonally adjusted), annual house prices decreased in Wales and the UK.
• The average house price* in Wales in March 2009 was £144,836, the fourth lowest figure amongst the regions of the UK (higher only than North West, Yorkshire and Humber and the North East).
• The UK average house price* stood at £187,193, whilst the UK figure excluding London and the South East was £160,032.

*Mix-adjusted house prices which take account of the different mix of properties sold in the period in question and are thus unaffected by varying sales of particular property types in one period when compared to another.

The full release is available on the CLG website.

Contact

Tel: 029 2082 5055
E-mail: stats.housing@wales.gsi.gov.uk

Next update

June 2009 (provisional - to be confirmed on the 'Due Out Soon' page)