Property prices are on the up in many parts of the UK which is great news for sellers. Overall they are 1.6 per cent higher than this time last year.
However, there are still some affordable areas for buyers to look, according to the latest House Price Index.
The Nationwide data, released today, found homes in Northern Ireland and the north of England have seen the biggest jump in prices on the same time in 2023.
Despite having the biggest increase, homes in the north are still the most affordable with an average price of £158,543.
The most affordable places in the UK have been shared
GETTY/PA
This is followed by homes in Scotland which cost £179,148 and homes in northern Ireland, which can be purchased for around £181,303.
This is much lower than the UK average house price which sits at £260,791 this quarter - down 0.2 per cent on last quarter. However, UK house prices were up 1.6 per cent on last year.
However, despite cheaper prices, northern Ireland enjoyed the biggest rises in property prices as they were up 4.6 per cent.
The capital city of London has the most expensive properties, according to the report, at £519,505. This is up 1.6 per cent on last year.
House price changes
N Ireland: £181,303 - up 4.6%
North: £158,543 - up 4.1%
Scotland: £179,148 - up 3.7%
North West: £209,548 - up 2.9%
Yorkshire & The Humber: £200,958 - up 2.4%
London: £519,505 - up 1.6%
Wales: £202,533 - up 1.2%
East Midlands: £229,458 - up 0.5%
West Midlands: £236,006 - down 0.2%
Outer Met: £414,477 - down 0.6%
Outer S East: £328,544 - down 1%
East Anglia: £268,778 - down 1.3%
South West: £297,228 - down 1.7%
Nationwide's Chief Economist Robert Gardner said: “UK house prices fell by 0.2 per cent in March, after taking account of seasonal effects. Nevertheless, the annual rate of house price growth edged higher to 1.6 per cent in March, from 1.2 per cent in February.
“Our regional house price indices are produced quarterly, with data for Q1 (the three months to March) indicating that while some regions recorded annual price declines, there was an improvement in the annual rate of change across all areas.
“Northern Ireland remained the best performing area, with prices up 4.6 per cent compared with Q1 2023. The biggest improvement in terms of annual price growth was in the north, where annual price growth picked up from -0.8 per cent in Q4 2023, to 4.1 per cent in Q1 2024, making it the best performing English region.
“Across England overall, prices were up 0.4 per cent compared with Q1 2023, while Wales saw a 1.2 per cent year-on-year rise. Meanwhile, Scotland saw annual price growth pick up to 3.7 per cent.
LATEST DEVELOPMENTS
Property prices in the UK are up on this time last year
GETTY
“Across northern England (which comprises North, North West, Yorkshire & The Humber, East Midlands and West Midlands), prices were up 1.7 per cent year on year.
“Meanwhile southern England (South West, Outer South East, Outer Metropolitan, London and East Anglia) saw a 0.3 per cent year-on-year fall. London remained the best performing southern region with annual price growth recovering to 1.6 per cent. The South West was the weakest performing region, with prices down 1.7 per cent year-on-year.”
Britons who are selling their homes will want to ensure they get as much money as possible for the sale.
Property experts shared how homeowners can boost the value of their house by £6,000 with tasks that take just a couple of hours.
