We have just got the price paid data in from Land Registry for March 2017 so we will be able to do our usual analysis of the month on month changes from 2010, alongside a summary to the first three months of 2017.
We will start by looking at the percentage split by property types which are:
Straight away we can see that completions are much more evenly split than in the two previous months of this year.
Looking more at the price paid data and we see an overall average price of £352,222. Compared to February’s average of £360, 683, this represents a drop of 2.4% and a 2.98% drop for a year on year comparison. Longer term, the percentage rise from March 2010 is a more healthy 16.55%
The ongoing area of interest is the year on year comparison by completions. In March 2016, there were 276 completions across all property types compared to 71 for March 2017. This is a sizable drop of 288.73%
Whereas last month [insert link], we saw a more even gap between the property types, this month we can see that detached properties have returned to what appears to be a wider yet more consistent gap with semi-detached properties having dipped down 1.17% (£333,397 versus £337,300). Terraced properties has the largest gain of 8.94% (£296,489 versus £269,981)
In reviewing the first three month of 2017, there is a continued trend in terms of the average price across all types dropping (12.76%) although the drop from February to March (2.4%) was not a dramatic as the one from January to February (9.19%)
What is encouraging is the 42.25% increase in the number of completions from January.