The Land Registry has just released its House Price Index for April 2022, and the data shows a clear rise in house prices across all regions. On average, properties in England increased in value by 0.8% between March and April 2022, and by 11.9% in the year from April 2021 to April 2022, with the average English house now worth £299,249. The data breaks down by region to reveal that the highest property prices are found, unsurprisingly, in London, where the average property transaction is now £529,829, while the lowest average price of £155,215 can be found in the North East.
Of course all of these are average figures, and they can be further broken down by property type – so for instance, the average detached house in London is worth £1,088,764, while the average flat comes in at £443,216. But what does an average property look like? Or, put another way, what can you buy for each region’s average budget?