The median price paid in England and Wales for a property was £277,500 in the year ending March 2024, according to the latest figures.
According to the latest data from the Office for National Statistics (ONS), this is stable compared to the prior period but down slightly on the same period in 2023, when the median price paid came to £282,317.
For England, the median price paid was £284,000, and for Wales, the median price paid was £195,000. This is up from £283,000 and £194,000 respectively.
From a regional perspective, the most expensive region was London, with a median price paid of £527,000, which was up from £525,000 in the prior period.
This was followed by the South East at £372,500, a drop from £375,000, and the East of England at £330,000, which is stable on the prior period.
The cheapest areas were the North East at £151,000, a slight rise from £150,000, while the median price paid in Yorkshire and the Humber came to £192,000, a rise from £190,000.
The North West’s median price paid came to £197,500, an increase from £195,000.
Detached houses are costliest property type
Looking at property type, a detached house cost £425,000 in the year ending March 2024, which is in line with the prior period.
In England, a detached house was £430,000, a drop from £435,000 in the previous period. Meanwhile, in Wales, a detached house cost £315,000 on average, a fall from £320,000.
For semi-detached houses, the median price paid stood at £262,500 for England and Wales, a slight drop from £263,000.
In England, an average semi-detached house cost £269,300, a rise from £269,000. Meanwhile, in Wales, prices stayed stable at £197,000.
Terraced houses cost an average of £225,000 in England and Wales, splitting out to £232,400 in England and £150,000 in Wales. This is in line with figures from the prior period.
Flats and maisonettes in Wales cost an average of £220,000, while in England, the average price was £225,000. Both are in line with the previous period’s figures.
The average price of a flat and maisonette in Wales contracted slightly from £135,000 to £132,125 in the current period.