Amid an overall monthly decline across the regions in March, home prices in London and the South East were going up, the latest Land Registry figures show.
The South East saw the biggest monthly rise of 0.8 per cent and prices in the capital in March were 0.2 per cent higher than in February.
The shortage in supply on the market has been growing in recent months and this is what keeps prices up despite the uncertainty around the General Election, according to experts.
Compared to a year ago, the trend was reversed with all regions experiencing an increase in prices, except the North East, which saw a 2.9 per cent decline. Price in the North East also marked the biggest monthly drop, of 4 per cent.
The average house price in England and Wales reached £178,007 in March 2015, down 0.8 per cent on February but up by 5.3 per cent compared to March last year.
The biggest rise in property values was in London, where the average house price hit £462,799, up 11.3 per cent year-on-year.
Loading ...