LONDON, May 21 (Xinhua) -- Britain's average house prices rose by 6.4 percent in the year to March 2025, reaching 271,000 pounds (about 363,950 U.S. dollars), the fastest annual increase since December 2022, official data showed Wednesday
According to the British House Price Index released by the Office for National Statistics (ONS), all four nations of Britain recorded annual growth, with Northern Ireland seeing the biggest rise.
In England, average house prices increased by 6.7 percent to 296,000 pounds. Wales saw prices rise by 3.6 percent to 208,000 pounds, while prices in Scotland grew by 4.6 percent to 186,000 pounds. Northern Ireland reported a 9.5 percent rise, with the average price reaching 185,000 pounds.
Among English regions, the North East posted the strongest annual growth at 14.3 percent. London recorded the lowest increase, with prices up 0.8 percent to an average of 552,000 pounds.
The number of residential property transactions in March reached an estimated 177,000, more than double the figure from the same month last year. The surge was partly driven by buyers moving ahead of changes to Stamp Duty Land Tax that took effect on April 1.
Meanwhile, the average rent paid by British tenants rose by 7.4 percent in the 12 months to April 2025, slightly down from 7.7 percent in March, the ONS said.
Analysts warn that while the housing market remains strong, inflationary pressures and future interest rate decisions could affect demand in the coming months. (1 pound = 1.34 U.S. dollars) ■