UK house prices grew by 4.1% in the year to March 2017, 1.5 percentage points lower than in the year to February 2017.

In terms of housing demand, the Royal Institute of Chartered Surveyors' (RICS) residential market survey for March 2017 reported that housing market activity remained "relatively subdued". New buyer enquiries and agreed sales remain broadly unchanged since the start of the year. This is consistent with UK Property Transaction statistics which showed that in March 2017 the total number of seasonally adjusted property transactions completed in the UK with value of £40,000 or above has remained at a similar level for the last 3 months.