ONS: London property market stalls despite UK house price spring bounce

Average house prices in the capital fell below £500,000 in March 2024. But growth became stronger in Scotland and Yorkshire.

Colourful London properties as ONS finds average house price in capital has stalled
Average UK sold house prices have fallen below £500k in London, the ONS has found (image: Getty Images)
(Image credit: Getty Images)

House price inflation recorded a surprise early-spring bounce in March, new figures from the Office for National Statistics (ONS) have suggested.

According to ONS analysis of Land Registry data, which shows prices as they were at the completion stage, the average home sold for £283,000 - a 1.8% (£5,000) increase compared with March 2023. It followed a dip in annual property price growth in February.

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Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.