The average house price across England and Wales in April fell slightly to £375,063, a level 0.5% down on March, the latest e.surv House Price Index has indicated.

This figure represents a 3.5% annual increase on April 2022.

e.surv’s latest data showed that the West Midlands took the top place in terms of regional growth at 6.0%, while at other end of the spectrum, London was the only region where prices have fallen over the last year, by -1.9%.

Since the pandemic in March 2020, e.surv has observed the average house price in England and Wales rise by £60,000, or 20%, although they have fallen back by more than £4,000 since a peak in October last year.

“Now more than ever, we should remind ourselves that monthly trends, often sparked by non-housing economic trends, do not change some fundamentals about the market,” commented director at e.surv, Richard Sexton.

“The ongoing lack of supply and current affordability issues are stymying activity but also support prices in part because there simply is not enough of the right kind of housing in the market. The extent to which this is the case has been the acknowledgement by both main political parties this month that housing will be a key election issue. We have heard already about the mooted return of Help to Buy and other market led mortgage products to support new buyers.

“We are only just past April – a key month for buyers and sellers and it is too early to say whether this key month in the housing calendar will herald a return to more normal growth trajectory. But whatever the next couple of months bring, our data suggests undue levels of pessimism are probably misplaced.”

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