The average price of a residential property in the UK was £286,000 in April 2023, up from £285,000 a month earlier.

The latest house price data from HM Land Registry, Registers of Scotland, and Land and Property Services Northern Ireland showed a price growth of 3.5% in the 12 months to April, down from 4.1% in March 2023.

The Office for National Statistics (ONS), in its UK House Price Index report, noted that while April’s average house price was £9,000 higher than what it was 12 months ago, it was still £7,000 below the recent peak in September 2022.

Average house prices increased over the 12 months by 3.7% to £306,000 in England, by 2% to £213,000 in Wales and to £187,000 in Scotland, and by 5% to £172,000 in Northern Ireland.

Among the English regions, the North East saw the highest annual percentage change over the year to April at 5.5%, while London recorded the lowest rise at 2.4%.

“Annual house price inflation slowed again in April across most UK nations and regions,” commented Aimee North, ONS head of housing market indices. “The North East showed the highest annual growth, while London remains the slowest growing English region.”